• 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’s Annual Report to Congress Details Record-Setting 2020

Geoff SchwellerbyGeoff Schweller
November 16, 2020
in Corporate, Dodd-Frank, News, SEC
Reading Time: 4 mins read
Lee SEC Whistleblower
Share on TwitterShare on FacebookShare on LinkedInEmail

On November 16, the U.S. Securities and Exchange Commission (SEC) Whistleblower Program released its 2020 Annual Report to Congress. The 2020 fiscal year (FY 2020) was a record-setting year for the program in a number of ways, including the number of whistleblower tips received, the number of whistleblower award claims processed, the number of whistleblowers rewarded, and the total dollar amount of whistleblower awards issued.

The report details these recent successes of the program as well as the specific activities of the SEC’s Office of the Whistleblower (OWB), including the whistleblower award determination process. The report confirms that in the ten-year history of the whistleblower program, $2.7 billion in total monetary sanctions have been triggered by whistleblower disclosures, including “more than $1.5 billion in disgorgement of ill-gotten gains and interest, of which more than $850 million has been, or is scheduled to be, returned to harmed investors.” Since issuing its first award in 2012, the SEC has awarded over $720 million to whistleblowers.

“The SEC program is a tremendous success,” said whistleblower attorney Stephen M. Kohn, partner at qui tam firm Kohn, Kohn & Colapinto and Chairman of the Board of Directors of the National Whistleblower Center. “The Commission has worked on a bi-partisan basis to hold Wall Street fraudsters accountable and protect the small investors. This is a model for other whistleblower programs to follow, and a testament to the importance of rewarding whistleblowers for their inside information. All of the SEC Commissioners, its enforcement staff and the staff of the Office of the Whistleblower deserve the thanks from all Americans who have significantly benefited from their excellent work.” 

Register for National Whistleblower Day

The report begins with a message from Jane Norberg, the Chief of the OWB. She states: “The milestones achieved in FY 2020 for the number of claims processed, the amount awarded in a single fiscal year, and the number of whistleblowers awarded are reflections of the Commission’s dedication to the program, and efforts by the resolute and dedicated staff in OWB, in partnership with other staff in Enforcement, to increase efficiencies in the review and processing of award claims. We are proud that OWB staff, along with our colleagues across the Commission, were able to continue operations and work effectively despite the challenges of COVID-19.”

The records set by the SEC Whistleblower Program in FY 2020 are numerous. In FY 2020, the SEC awarded approximately $175 million to 39 individuals — both the highest dollar amount and the highest number of individuals awarded. Notably, the 39 individuals figure is triple the previous record of individuals who received awards. The SEC also issued Final Orders for a record 197 whistleblower award claims and processed a record 315 claims to Preliminary Determination. The SEC additionally received 6,900 whistleblower tips in FY 2020 – a 31% increase over the previous record. Whistleblower tips were received from individuals from all 50 U.S. states and 78 foreign countries.

The report also details the rule changes to the whistleblower program approved by the SEC in September 2020. These changes affect a number of aspects of the program, including award determinations, anti-retaliation protections, and the disclosure process. While some whistleblower advocates and two SEC Commissioners expressed reservations about specific rule changes, the final changes were largely seen as a win for whistleblowers. Following the vote on the rule changes, Kohn authored the definitive analysis of the changes.

Norberg concluded her opening message in the report by stating: “FY 2020 truly was a historic year that demonstrated the Commission’s dedication to the whistleblower program, which continues to have a significant impact on the Commission’s enforcement efforts and protection of retail investors. We hope the awards made in FY 2020 continue to incentivize whistleblowers to come forward and report specific, timely, and credible information to the Commission, which in turn enhances the agency’s ability to detect wrongdoing and protect investors and the marketplace.”

Read:

2020 OWB Annual Report

Tags: Corporate WhistleblowersDodd-Frank ActSECStephen M. KohnWhistleblower Rewards
Previous Post

Four Whistleblowers File Lawsuit Against Texas Attorney General

Next Post

SEC Chairman Jay Clayton to Step Down at End of Year

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
SEC Whistleblower

SEC Chairman Jay Clayton to Step Down at End of Year

Please login to join discussion

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