- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2020-10-22T20:01:00
A $114 million whistleblower payout announced Thursday is the highest ever awarded by the Securities and Exchange Commission, more than doubling the previous $50 million record set in June.
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The Commodity Futures Trading Commission paid out what is believed to be the largest-ever whistleblower award to an individual—nearly $200 million—who provided credible information to open investigations launched by the CFTC, another U.S. regulator, and a foreign regulator.
The head of the Securities and Exchange Commission’s whistleblower program, Jane Norberg, will leave her post later this month.
The Securities and Exchange Commission has announced over $176 million in whistleblower awards in the first four months of the current fiscal year, already more than any other year in its history.
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.
