What Makes a Successful Whistleblower?
The SEC and CFTC whistleblower programs were created to encourage insiders to come forward with original information that can lead to enforcement actions against unethical financial industry players.
By offering rewards to tipsters, the programs help protect investors and other potential victims of financial fraud. The agency’s whistleblower provisions, the SEC states, help “better preserve the integrity of the United States’ capital markets, and more swiftly hold accountable those responsible for unlawful conduct.”
Since its inception, the SEC’s whistleblower program has led to over $2 billion in monetary sanctions against wrongdoers. Whistleblower awards issued over the same period amount to $385 million. Last year alone, the SEC rewarded tipsters with over $168 million.Read more here.