SEC Releases First Annual Info on Office of Whistleblower
The SEC announced, in its first fiscal year report on the whistleblower program, that it received 3,001 tips, complaints and referrals during the 12-month period ending September 30. The Office of the Whistleblower has made only one award for $50,000, although the Office posted 143 Notices of Covered Action, which may result in rewards. The most common complaints involved corporate disclosures and financials, offering fraud, and market manipulation. The Office of the Whistleblower employs eight lawyers, three paralegals, and a program support specialist. The Office has been funded with over $450 Million.