Whistleblower Awards Reach Record 10 Years After 2008 Crisis. Exposing Misconduct.

Whistleblower Awards Reach Record 10 Years After 2008 Crisis

November 16, 2018

It’s now 10 years after the financial crisis, but cases of illegal activities in the financial services industry and corporate America are still prevalent. The Securities and Exchange Commission (SEC) says it made a record payout of awards to whistleblowers in its latest fiscal year ending in September. Aided by whistleblowers, the agency says that many the firms and individuals it brought cases against “are involved in the financial services industry,” including “broker-dealers, investment advisers, or other registered market participants.” In its latest Annual Report to Congress, the SEC indicated that the total amount of the 2018 awards to whistleblowers was extraordinary. “The Commission awarded more dollars in FY 2018 to meritorious whistleblowers who provided new and critical information than in all prior years combined. The Commission also received more whistleblower tips in FY 2018 than in any other previous year.”

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