The Securities and Exchange Commission has made it abundantly clear that, if given the choice between getting whistleblower claims—and having to process them and think about them and deal with them and then maybe bring a case based on them and possibly cut a check for the information received in them—and, say, not, they’d happily take the latter. Well, the whistleblowers are either not taking the fairly obvious hints, or are trying to get in under the wire before the SEC is allowed to stop paying them.
The SEC, which established the program in 2011 as part of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, awarded more than $168 million to 13 individuals in the last fiscal year, which ended Sept. 30…. Before this past year, the agency had awarded a total of $158 million to 46 individuals who brought in information and cooperated with the regulator.
The Office of the Whistleblower also received 5,282 whistleblower tips during the year—the most in a single year and about 18% more than in 2017. Tips came from individuals in 72 foreign countries and the U.S.