On November 15, the U.S. Securities and Exchange Commission (SEC) issued its yearly report on the Office of the Whistleblower, created through the Dodd-Frank Act of 2010. Under the program, anyone who submits original information that directly results in enforcement actions for securities violations leading to fines of more than $1 million is eligible for an award worth 10 to 30 percent of those sanctions.
Each year, the SEC issues the annual report to summarize the whistleblower complaints received that year and how the agency responded to them. This past year was the busiest yet for the Office of the Whistleblower, with more claims submitted and awards granted since 2011.
The following is a quick overview of some of the information included in the report:
The incentives the SEC has established in recent years makes it easier and more advantageous than ever for whistleblowers to come forward with complaints. To learn more provide the SEC and other regulators with tips, meet with a knowledgeable Dallas attorney at Whistleblower Law for Managers.