The U.S. Securities and Exchange Commission (SEC) Office of the Whistleblower Annual Report to Congress for Fiscal Year 2024 details a record fiscal year for the hugely successful SEC Whistleblower Program. During FY 2024, the SEC Whistleblower Program received a record 24,980 whistleblower tips and awarded over $255 million, the third highest annual amount.
“The SEC Office of the Whistleblower’s Annual Report to Congress demonstrates once again that the whistleblower program is a crown jewel of the agency and a cornerstone of its enforcement efforts” said Andrew Feller, co-Chair of Kohn, Kohn & Colapinto’s Securities and Commodities Whistleblower Group. “We commend the Office of the Whistleblower for the steps it’s taken to ensure the protection of whistleblowers from retaliation, and to continue its welcome efforts to increase the efficiency of awards processing.”
Established in 2010 with the passage of the Dodd-Frank Act, the SEC Whistleblower Program has now awarded a total of more than $2.2 billion to 444 individuals. Under the program, whistleblowers may anonymously report securities violations and qualified whistleblowers are eligible to receive monetary awards of 10-30% of the sanctions collected in an enforcement action aided by their disclosure.
“The U.S. Securities and Exchange Commission’s Whistleblower Program (Program) had another strong year, working to fulfill its mission to protect investors by administering an efficient program that is responsive to...
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