The Dodd-Frank whistleblower program has generated significant administrative achievements for the Securities and Exchange Commission (SEC) and its enforcement partners, like the Department of Justice. According to the SEC, since the Dodd-Frank whistleblower rules became effective in 2011, the SEC has ordered more than $1 billion in rewards to over 240 individuals. The SEC and other agencies have, collectively, imposed monetary sanctions of over $5 billion arising from enforcement actions based on original information received under the whistleblower program. [1] Last year, the SEC also received more than 12,000 whistleblower tips relating to corporate disclosures and financial statements, market trading practices, insider trading, initial coin offerings and cryptocurrencies, the FCPA, and other types of allegations.[2]
On February 10, 2022, the SEC issued two proposals to amend the whistleblower program rules.[3] The first proposal relates to the payment of awards in related actions covered by another whistleblower award program, and the second proposal relates to how the SEC may assess dollar amounts as a factor in the final award. Both proposals are designed to further incentivize whistleblowers to make reports to the SEC.
The Dodd-Frank program rules allow a whistleblower to collect an award based on monetary sanctions collected by another agency in a related action that was based on the same original information provided by the whistleblower. Recognizing that there...
Moore has faced scrutiny for making false claims about his academic, military, and family backgrounds Democratic Maryland Gov. Wes Moore has embarked on a preemptive media campaign attacking his st...