- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-08-08T17:41:00
The Securities and Exchange Commission (SEC) announced its fourth largest whistleblower award at $104 million, and yet another number stood out to me more: 11.
That was the amount of claimants that came forward to the SEC seeking a share of the award, according to the agency’s order released Friday. The bounty was ultimately split among seven whistleblowers, but the fact nearly a dozen individuals contacted the SEC seeking to provide information related to one action should be notable to companies regarding the stakes of the current whistleblower landscape.
Whistleblowers are rarely motivated by money—we’ve heard this before—but it’s hard to ignore when one person receives a life-changing award for coming forward, as was the case earlier this year when the SEC announced a $279 million bounty. Indeed, the agency is being sued by at least one of the two claimants denied a share of that record-shattering award.
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