• Qui Tam
  • SEC
  • CFTC
  • FCPA
  • Whistleblower Resources
  • FAQS
Subscribe
Donate
No Result
View All Result
Whistleblower Network News
The Truth at Any Cost.
Qui Tam, Compliance and Anti-Corruption News.
SIGN THE PETITION FOR NATIONAL WHISTLEBLOWER DAY IN 2023
Whistleblower Network News
  • Qui Tam
  • SEC
  • CFTC
  • FCPA
  • Whistleblower Resources
  • FAQS
Subscribe
Donate
No Result
View All Result
Whistleblower Network News
No Result
View All Result
Home Corporate SEC

SEC Whistleblower Program Off to Hot Start in 2022 Fiscal Year

Geoff SchwellerbyGeoff Schweller
October 15, 2021
in SEC
Reading Time: 3 mins read
Share on TwitterShare on FacebookShare on LinkedInEmail

On October 15, the U.S. Securities and Exchange Commission (SEC) announced it issued whistleblower awards totaling over $40 million. The agency has now issued seven whistleblower awards since the 2022 fiscal year began on October 1, 2021. The 2021 fiscal year was a record-setting year for the SEC Whistleblower Program.

The awards granted on October 15 included a $32 million and $8 million award issued in connection with the same enforcement action. The first whistleblower received a much larger award because the SEC determined that they “contributed substantially more to the success of the Covered Action” than the second whistleblower, according to the award order. Furthermore, while the first whistleblower “persistently alerted the Commission to the ongoing abusive practices for a number of years before the investigation was opened,” the second whistleblower “delayed reporting to the Commission for several years after becoming aware of the wrongdoing.”

“Today’s whistleblowers underscore the importance of the SEC’s whistleblower program to the agency’s enforcement efforts,” said Emily Pasquinelli, Acting Chief of the SEC’s Office of the Whistleblower. “These whistleblowers reported critical information that aided the Commission’s investigation and provided extensive, ongoing cooperation that helped the Commission to stop the wrongdoing and protect the capital markets.”

Support Whistleblower Network News

The other award issued on October 15 was a $300,000 award granted to a whistleblower who “alerted Enforcement staff to the potential wrongdoing, prompting the opening of the investigation.”

On October 12, the SEC issued a whistleblower award for approximately $1.3 million. According to the award order, the whistleblower “provided significant information that prompted the opening of the investigation by the Commission staff, participated in multiple interviews with Commission staff, and continued to provide helpful information over a two year period.”

On October 8, the SEC issued two separate whistleblower awards: one for $100,000 and one for a yet to be determined amount. This second award will be for the statutory maximum percentage but no collections have been made in connection with the case yet to determine the exact size of the award. Both whistleblowers provided the SEC with original information that led to the opening of an investigation.

On October 1, the SEC awarded $1.7 million to a whistleblower who “provided new, detailed, and highly valuable information that prompted the opening of the investigation and provided substantial assistance during the course of the investigation,” according to the award order.

In the 2021 fiscal year, the SEC awarded over $500 million to over 100 individual whistleblowers. Both of these figures were far greater than previous fiscal year records. During the 2021 fiscal year, the SEC also set the record for single largest whistleblower award when it issued a $114 million award. Overall, since issuing its first award in 2012, the SEC has awarded approximately $1.1 billion to 218 individuals.

Through the SEC Whistleblower Program, qualified whistleblowers are entitled to a monetary award of 10-30% of funds recovered by the government. In addition to monetary awards, the SEC Whistleblower Program offers anti-retaliation protections to whistleblowers. One of these protections is confidentiality; thus, the SEC does not disclose any identifying information about award recipients.

Read:

SEC Awards $40 Million to Two Whistleblowers

SEC Award Orders

More SEC Whistleblower News on WNN

Tags: Corporate WhistleblowersSECWhistleblower Rewards
Previous Post

Environmental Whistleblowers are Key Human Rights Defenders, According to Comments to UN

Next Post

Reality Winner, Family Speak After Documentary Screening

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
Photo of the post-screening discussion of "United States v. Reality Winner." Copyright: Ana Popovich, reporter at Whistleblower Network News.

Reality Winner, Family Speak After Documentary Screening

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

US Attorneys Reflect on UK’s Whistleblowing Awareness Week

OSHA Highlights Railroad Worker Whistleblower Protections in Wake of Train Derailments

AML Whistleblower Law Could Shift the Way DOJ Handles Whistleblowers

Two Powerful Women Whistleblower Pairs to Learn From This Women’s History Month

WNN Exclusive Interview with Social Security Whistleblowers Sarah Carver and Jennifer Griffith — Part 2

Change the Culture, Make National Whistleblower Day Permanent

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
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

  • The Whistleblowers Handbook
  • 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 © 2021, 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.

SIGN THE PETITION FOR NATIONAL WHISTLEBLOWER DAY IN 2023
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
  • Media
    • Podcasts
    • Videos
    • Webinars
    • National Whistleblower Day
  • Whistleblower Poll
  • Whistleblower Resources
    • Frequently Asked Questions
    • Resources for Locating An Attorney
    • The New Whistleblowers Handbook
  • National Whistleblower Day ’23

Copyright © 2020, Whistleblower Network News. All Rights Reserved.

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

Add New Playlist

Go to mobile version