• AML
  • Qui Tam
  • SEC
  • CFTC
  • FCPA
  • FAQS
Subscribe
Donate
No Result
View All Result
Whistleblower Network News
The Truth at Any Cost.
Qui Tam, Compliance and Anti-Corruption News.
Whistleblower Network News
No Result
View All Result
Home Corporate SEC

SEC Whistleblower Program “Integral” to Agency’s Record Enforcement Year

Geoff SchwellerbyGeoff Schweller
November 15, 2022
in SEC
Reading Time: 3 mins read
SEC Whistleblower
Share on TwitterShare on FacebookShare on LinkedInEmail

On November 15, the U.S. Securities and Exchange Commission (SEC) announced its enforcement results for Fiscal Year 2022 (FY 2022). The agency revealed it recovered a record $6.9 billion in penalties and disgorgement over the course of FY 2022. In its announcement, the SEC highlights the role the agency’s whistleblower program played in its enforcement success.

“The SEC’s Office of the Whistleblower is an integral part of the Enforcement Program,” the report states. “In fiscal year 2022, the SEC issued approximately $229 million in 103 awards, making it the SEC’s second highest year in terms of dollar amounts and number of awards. The Whistleblower Program also received a record high number of whistleblower tips alleging wrongdoing—more than 12,300 whistleblower tips—in fiscal year 2022.”

Through the SEC Whistleblower Program, qualified whistleblowers, individuals who voluntarily provide the agency with original information that leads to a successful enforcement action are entitled to an award of 10-30% of the funds collected by the government in the action.

Register for National Whistleblower Day

The SEC set records for the most money awarded to whistleblowers and for the most individual awards in Fiscal Year 2021 when it awarded approximately $564 million to 108 individuals. Since issuing its first award in 2012, the SEC has issued over $1.3 billion in whistleblower awards.

In FY 2022 the SEC also filed enforcement actions against entities and individuals that violated the Dodd-Frank Act’s anti-retaliation provisions. In one action, the SEC charged the Brink’s company over language in confidentiality and nondisclosure agreements which restricted whistleblowing. In another case, the SEC charged David Hansen, co-founder and former Chief Information Officer of the technology company NS8, Inc., for impeding an individual from communicating with the SEC about potential securities violations.

Overall, the SEC filed 760 total enforcement actions in FY 2022, including 462 new, or “stand alone,” enforcement actions. According to the SEC, these stand alone enforcement actions “ran the gamut of conduct, from ‘first-of-their-kind’ actions to cases charging traditional securities law violations.” Emergent forms of misconduct highlighted by the SEC in its announcement include cryptocurrency fraud and environmental, social, and governance (ESG) violations.

“As reflected in these results, the Enforcement Division is working with a sense of urgency to protect investors, hold wrongdoers accountable and deter future misconduct in our financial markets,” said Gurbir S. Grewal, Director of the Division of Enforcement. “A centerpiece of those efforts is ensuring that we are using every tool in our toolkit, including penalties that have a deterrent effect and are viewed as more than the cost of doing business. While we set a Commission record this past fiscal year for total money ordered at $6.4 billion, including a record $4.2 billion in penalties, we don’t expect to break these records and set new ones each year because we expect behaviors to change. We expect compliance.”

“The breadth of issues covered in last year’s actions amply demonstrates Enforcement staff’s skill in uncovering violations, its resourcefulness in deploying the right investigative tools and case strategy, and, above all, its doggedness in pursuing wrongdoers and obtaining remedies that promote market integrity while helping to protect investors,” said Sanjay Wadhwa, Deputy Director of the Division of Enforcement. “From investigative attorneys and litigators to accountants, data scientists, investigators, and support staff, each member of Enforcement contributed to the many successes of the Division in the past fiscal year, and it is a great privilege to serve alongside them in protecting U.S. investors.”

Further Reading:

SEC Announces Enforcement Results for FY22

More SEC Whistleblower News on WNN

Tags: SEC
Previous Post

2019 Whistleblower Lawsuit Leads to $51 Million False Claims Act Settlement: Whistleblowers Take Home $12,750,000

Next Post

Nominee for IRS Commissioner: “You Want to Incentivize People to Report Bad Behavior”

Geoff Schweller

Geoff Schweller

Geoff Schweller is the Assistant News Editor for Whistleblower Network News. He coordinates news coverage, and also writes about breaking whistleblower news, SEC whistleblowers, IRS whistleblowers, CFTC whistleblowers, and federal employee whistleblowers. Geoff graduated from Hamilton College with a degree in Sociology and minors in French & Francophone Studies and Cinema & New Media Studies.

Next Post
IRS Whistleblowing

Nominee for IRS Commissioner: “You Want to Incentivize People to Report Bad Behavior”

Receive Daily Alerts

Subscribe to receive daily breaking news and legislative developments sent to your inbox.

  • This field is for validation purposes and should be left unchanged.

Most Popular

Advocates Detail Need for SEC Whistleblower Reform

Raytheon Whistleblower Receives $1.5 Million for Alleging Cybersecurity Non-Compliance

Ruling Striking Down Trump Order Targeting Law Firm Seen as Crucial for Whistleblowers

MJH Healthcare Settles Whistleblower Allegations of Postal Rate Fraud for $2 Million

Poll Shows Overwhelming Support for Stronger Whistleblower Laws in Australia, Mirroring Polling in US

Four Whistleblowers Receive $1.3 Million for Alleging Genetic Testing Fraud Scheme

Whistleblower Poll

Whistleblower Poll
Whistleblower Poll

Exclusive Marist Poll: Overwhelming Public Support Among Likely Voters For Increased Whistleblower Protections

byGeoff Schweller
October 6, 2020

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

STAY INFORMED.
Subscribe to receive breaking whistleblower updates.

  • This field is for validation purposes and should be left unchanged.

About Us

  • About
  • Contact Us
  • Donate
  • Careers

Subscribe

  • Daily Mail
  • Follow us on Twitter
  • YouTube Channel

Contribute

  • Letter to the Editor
  • Submission Guidelines
  • Reprint Guidelines

Your Experience

  • Accessibility Statement
  • Privacy Policy
  • Terms of Use

Help

  • Rules for Whistleblowers
  • Frequently Asked Questions
  • Advertise
Whistleblower Network News

Whistleblower Network News is an independent online newspaper providing our readers with up-to-date information on whistleblowing. Our goal is to be the best source of information on important qui tam, anti-corruption, compliance, and whistleblower law developments. 

Submit an Article

Copyright © 2025, Whistleblower Network News. All Rights Reserved.

This Newspaper/Web Site is made available by the publisher for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this website, you understand that there is no attorney-client relationship between you and the Newspaper/Web Site publisher. The Newspaper/Web Site should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

Become a Whistleblower Network News Subscriber

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Subscribe to WNN

Retrieve your password

Please enter your username or email address to reset your password.

Subscribe to WNN
RSVP to National Whistleblower Day 2025! July 30, 2025 on Capitol Hill
RSVP NOW

Add New Playlist

No Result
View All Result
  • Exclusives
  • Government
    • False Claims-Qui Tam
    • Federal Employees
    • Intelligence
  • Corporate
    • CFTC & Commodities
    • Dodd-Frank
    • IRS & Tax
    • SEC & Securities
  • Features
  • Legislation
  • International
    • Foreign Corruption
  • Rewards
  • Whistleblower of the Week
  • Environment & Climate
  • Opinion
  • Editorial
  • Employment
    • Sarbanes-Oxley Whistleblowers
    • Retaliation
    • OSHA
  • Make National Whistleblower Day Permanent
  • Media
    • Podcasts
    • Videos
    • Webinars
    • National Whistleblower Day
  • Whistleblower Poll
  • Whistleblower Resources
    • Frequently Asked Questions
    • Resources for Locating An Attorney
    • The New Whistleblowers Handbook

Copyright © 2024, Whistleblower Network News. All Rights Reserved.

Go to mobile version