- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
These best practices will guide compliance practitioners turned whistleblower through the process of reporting wrongdoing while protecting themselves from harm.
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The Securities and Exchange Commission has paid out approximately $119 million to 20 whistleblowers in the past 10 months, a trend the agency continued with the latest announcement of a $3.8 million award.
If there’s anything to be learned from recent examples, it’s that whistleblowers do more than anyone to speak truth to power. That’s why it’s so important they are both listened to and properly protected and rewarded.
The Securities and Exchange Commission announced the award of $18 million to a whistleblower, continuing a two-month surge in payouts by the agency that has now seen two of its largest bounties to date.
Two pairs of claimants will receive whistleblower awards totaling more than $98 million and $24 million, respectively, for information they provided to the Securities and Exchange Commission that led to an enforcement action.
Discrimination against whistleblowers in the U.K. has risen to such a level that the government may need to actively pursue plans to afford greater legal protection, as well as introduce financial awards to compensate for their “career suicide.”
The Department of Justice released the details of its long-awaited corporate whistleblower awards pilot program that will prioritize reporting in areas of corporate crime not currently covered by existing whistleblower programs.
