- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2020-01-23T20:04:00
The Securities and Exchange Commission announced its first whistleblower awards of the new year in connection with two separate enforcement actions.
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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.
The Securities and Exchange Commission announced the award of more than $7 million to a whistleblower who provided “extensive and ongoing assistance” during the course of an investigation.
Are whistleblowers getting the short end of the stick? A recent case highlights one way in which the process for government rewards might be perceived as unfair.
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.
