The recently created SDNY Whistleblower Pilot Program encourages individuals to self-disclose certain criminal conduct and cooperate in resulting investigations and prosecutions.
On January 10, 2024, the U.S. Attorney's Office for the Southern District of New York ("SDNY") announced a Whistleblower Pilot Program that encourages individuals to voluntarily disclose information concerning certain fraud, corruption, and other criminal conduct, and offers individuals non-prosecution agreements ("NPAs") in exchange for cooperation in a resulting investigation and prosecution.
The SDNY Whistleblower Pilot Program applies to individuals who provide information to the SDNY about criminal conduct involving: (i) fraud, corporate control failures, or other acts affecting market integrity undertaken by or through public or private companies, exchanges, financial institutions, investment advisors, or investment funds; or (ii) state or local bribery or fraud involving federal, state, or local funds. The policy excludes violations of the Foreign Corrupt Practices Act, federal/state campaign financing laws, federal patronage crimes, corruption of the electoral process, or bribery of federal officials, many of which are covered by other similar Department of Justice ("DOJ") policies.
The policy provides that the SDNY would enter into an NPA with a whistleblower who provides such information if:
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