Whistleblower Tips are on the Rise
Increased public awareness of the SEC’s Whistleblower Program has lead to a tremendous growth in whistleblower tips and complaints. In Fiscal Year 2016, the SEC received a record number of tips totaling more than 4,200. That same year, the SEC paid over $57 million in awards to whistleblowers. Eligible whistleblowers are entitled to an award equal to 10% to 30% of the monetary sanctions collected by the SEC. The largest amount paid to a whistleblower in 2016 was $22 million. The payment of significant awards to whistleblowers has undoubtedly led to a flood of tips and complaints.