- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-01-14T19:46:00
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.
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Two whistleblowers sought to undermine each other in vying for the majority of a $22 million award issued by the SEC regarding malfeasance reported at a financial services firm.
A pair of tipsters were awarded over $50 million by the SEC in the agency’s second-largest payout under its successful whistleblower program.
The head of the Securities and Exchange Commission’s whistleblower program, Jane Norberg, will leave her post later this month.
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.
