On February 20, 2025, the SEC announced the creation of the Cyber and Emerging Technologies Unit (CETU) to focus on combatting cyber-related misconduct and to protect retail investors from bad actors in the emerging technologies space. In announcing the formation of the CETU, Acting Chairman Mark T. Uyeda said:
The unit will not only protect investors but will also facilitate capital formation and market efficiency by clearing the way for innovation to grow. It will root out those seeking to misuse innovation to harm investors and diminish confidence in new technologies.
As detailed below, the SEC’s press release identifies CETU’s seven priority areas to combat fraud and misconduct. Whistleblowers can provide original information to the SEC about these types of violations and qualify for an award if their tip leads to a successful SEC enforcement action. The largest SEC whistleblower awards to date are:
Under the SEC Whistleblower Program, the SEC will issue awards to whistleblowers who provide original information that leads to successful enforcement actions with total monetary sanctions in excess of $1 million. A...
Dive Brief: A federal judge has ordered CVS to pay $948.8 million in penalties and damages in a whistleblower case alleging that the company’s Omnicare division illegally charged the U.S. governm...