Whistleblower Awards Increase Dramatically in 2016
The SEC Whistleblower Program rewards those who voluntarily provide information that helps the agency identify securities violations and successfully enforce the law. As shown in the graphic above, the SEC’s whistleblower award program has substantially grown since its launch in 2011. Both the frequency and size of the monetary awards have gone up over time, increasing from just one $50,000 award in 2012 to ten awards totaling $26 million so far in 2016. Six of those ten whistleblower awards were greater than $1 million – the largest being a whopping $17 million awarded to one recipient on June 9, 2016. Combined, the money awarded in the first six months of 2016 makes up 31 percent of all the award money the SEC has doled out in the past five years. We expect this upward trend to continue as the SEC whistleblower program grows, with more frequent and, in all likelihood, even larger awards in the future.