Earlier this month, U.S. Sens. Chuck Grassley, R-Iowa, and Elizabeth Warren, D-Massachusetts, reintroduced the SEC Whistleblower Reform Act of 2025, a bipartisan effort to further strengthen the SEC Whistleblower Program. Similar to a previous version of the bill, the legislation would expedite the timing of award determinations and enhance retaliation protections for corporate insiders. The goal of these measures is to empower whistleblowers to come forward with tips that will allow enforcement authorities to swiftly stop and deter corporate and other financial wrongdoing.
By all measures, the SEC Whistleblower Program is a resounding success. Since the program launched in 2011, whistleblowers from all walks of life have come forward to report violations of the federal securities laws. Their actionable intelligence has allowed the government to recover over $6.3 billion in sanctions against bad actors. And last November, the SEC reported that more than 440 whistleblowers have earned over $2.2 billion in rewards to date. Those figures are simply astonishing.
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