SEC anticipates paying an additional $221 million to whistleblowers in FY2018.
Washington, DC, November 16, 2017. The Securities and Exchange Commission’s Office of the Whistleblower issued its annual report today. The Commission confirmed that “whistleblowers have provided tremendous value to its enforcement efforts and significantly helped investors.” It also confirmed that whistleblower disclosures have “directly” contributed to “hundreds of millions of dollars returned to investors.”
In FY 2017, the Commission paid $50 million in rewards to twelve whistleblowers. Since 2012, the Commission has paid $160 in whistleblower rewards.
Moreover, in its 2017 Financial Report the SEC “recognized a contingent liability” of $221 million for “liability for estimated whistleblower awards where the payment is considered probable.” This contingent liability is based on the Commissions practice of issue preliminary determinations setting forth specific reward amounts prior to finalizing a reward payment.Read more here.