The Securities and Exchange Commission (SEC) published their annual report that outlined their whistleblower program. In 2018, the SEC received the largest number of tips from whistleblowers, and paid out the most in rewards ever. The program awarded more than $168 million, which was more than the past six years combined. Overall, the program received 5,282 whistleblower tips, an 18% increase from 2017.
Under the SEC whistleblower program, if a whistleblower provides information that helps the SEC collect at least $1 million in awards, they can collect between 10-30% of that fine. Under the law, whistleblowers are protected from employer retaliation.
To read more from the Wall Street Journal about the SEC’s 2018 whistleblower program click here.
To learn more about our Whistleblower & Qui Tam practice click here. Our firm is located in Nashville, Tennessee but we represent whistleblowers all around the country. Call us today at (615) 244-2202.