- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2020-03-23T19:28:00
The Securities and Exchange Commission announced an award of more than $1.6 million to a whistleblower whose information formed part of the basis for charges brought in a successful enforcement action.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
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.
A whistleblower terminated by his or her company soon after raising concerns internally about discovered misconduct was the recipient of a $5 million SEC payout—the seventh by the agency in the last month.
The Securities and Exchange Commission announced the award of $2 million to a whistleblower—its fifth payout in the last 12 days. For the year, the SEC has already matched its 2019 total of eight awards.
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.
