Arnold & Porter's Jane Norberg was recently featured on the "Great Women in Compliance" podcast. With her extensive experience as a former Chief of the Office of the Whistleblower at the Securities and Exchange Commission (SEC), Norberg discussed the SEC's whistleblower program, its impact on corporations, and the challenges that compliance programs face in the current work environment.

During Norberg's tenure, the whistleblower program saw a significant expansion in both the number of tips received and the awards issued to whistleblowers. The program has evolved into an essential component of the SEC's enforcement efforts, with staff working closely with whistleblowers to bring about successful enforcement actions.

Key Takeaways:

• Record number of whistleblower tips: In 2022, the SEC received over 12,000 whistleblower tips, following a record-breaking year in 2021. This surge in reporting began around the time of COVID-19 lockdowns, raising questions about the effectiveness of internal reporting structures in remote work environments.
  
  
• Impact on corporations: Over the 12 years of the SEC whistleblower program, corporations and individuals have been fined over US$6.3 billion based on whistleblower information. This highlights the importance of robust compliance programs that can effectively address and investigate internal reports.
  
  
• Expansion of whistleblower impeding cases: The SEC rules prohibit any action that impedes someone from reporting a possible...

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