On November 15, the U.S. Securities and Exchange Commission (SEC) Office of the Whistleblower published its Annual Report to Congress for Fiscal Year 2024 detailing another hugely successful year for the SEC Whistleblower Program.
“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 whistleblower needs and helps the Commission identify and stop securities law violations,” the report states.
According to the report, the SEC Whistleblower Program received a record 24,980 whistleblower tips during FY 2024 and awarded over $255 million to 47 whistleblowers, the third highest annual amount ever awarded.
“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.”
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