In 2010, Congress realized they had to take significant action in response to the rise in corporate scandalsthat had caused irreparable harm to so many companies and individuals. As a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Securities and Exchange Commission (SEC) created the SEC Whistleblower Program – a program that has become the one of the greatest and most effective between public and private partnership in U.S. history.
The SEC Whistleblower Program has been a success thanks to numerous protections that have been put into place to ensure the people reporting are not at risk of losing their job, as well as substantial incentives that encourage people with information to come forward. The program has resulted in more than $1.7 billion in financial sanctions and payments of more than $326 million to SEC whistleblowers. This success relies on key aspects of the program.Read more here.