Securities and Exchange Commission: Difference between revisions

The SEC runs a whistleblower rewards program, which rewards individuals who report violations of [[securities law]]s to the SEC.<ref>{{Cite news|last=Sun|first=Mengqi|date=2020-06-01|title=Tips to SEC Surge as Working From Home Emboldens Whistleblowers|language=en-US|work=[[The Wall Street Journal]]|url=https://www.wsj.com/articles/tips-to-sec-surge-as-working-from-home-emboldens-whistleblowers-11591003800|access-date=2022-01-19|issn=0099-9660}}</ref><ref name="BBC News">{{Cite news|date=2014-09-22|title=Whistleblower in largest-ever award by US government|language=en-GB|work=BBC News|url=https://www.bbc.com/news/business-29316077|access-date=2022-01-19}}</ref> The program began in 2011 with the passage of the [[Dodd–Frank Wall Street Reform and Consumer Protection Act|Dodd-Frank Wall Street Reform and Consumer Protection Act]] and allows whistleblowers to be given 10-30% of the penalties collected by the SEC and other agencies as a result of the whistleblower's information.<ref>{{Cite web|title= Office of the Whistleblower|url=https://www.sec.gov/whistleblower|access-date=2022-01-19|website=SEC.gov}}</ref><ref>{{Cite news|last=Henning|first=Peter J.|date=2016-09-06|title=Whistle-Blowing Insiders: 'Game Changer' for the S.E.C.|language=en-US|work=The New York Times|url=https://www.nytimes.com/2016/09/07/business/dealbook/whistle-blowing-insiders-game-changer-for-the-sec.html |url-access=subscription |access-date=2022-01-19|issn=0362-4331}}</ref><ref>{{Cite web|title=Dodd-Frank SEC Whistleblower Protection Post-Digital Realty|url=https://www.natlawreview.com/article/dodd-frank-sec-whistleblower-protection-post-digital-realty |first1=Jason |last1=Zuckerman |first2=Matthew |last2=Stock |date=November 6, 2020 |access-date=2022-01-19|website=The National Law Review|language=en}}</ref> As of 2021, the SEC had recovered $4.8 billion in monetary remedies as a result of information obtained through the whistleblower program and had paid out over $1 billion to whistleblowers.<ref name="BBC News"/><ref>{{Cite web|title=SEC Hits $1 Billion Milestone|url=https://www.jdsupra.com/legalnews/sec-hits-1-billion-milestone-5622928/ |date=October 14, 2021 |access-date=2022-01-19|website=JD Supra|language=en}}</ref> As part of the program, the SEC issues a report to Congress each year and the 2021 report is available online.<ref>{{Cite web |title=2021 Annual Whistleblower Program Report to Congress |url=https://www.sec.gov/files/owb-2021-annual-report.pdf |url-status=live |archive-url=https://web.archive.org/web/20230612225449/https://www.sec.gov/files/owb-2021-annual-report.pdf |archive-date=Jun 12, 2023 |website=U.S. Securities and Exchange Commission}}</ref>