HomeSEC Report Details Record-Shattering Year for Whistleblower Program

SEC Report Details Record-Shattering Year for Whistleblower Program

On November 15, the U.S. Securities and Exchange Commission (SEC) Whistleblower Program released its Annual Report to Congress for the 2021 fiscal year. The report details a record-shattering fiscal year for the agency’s highly successful whistleblower program. During the 2021 fiscal year, the SEC Whistleblower Program received a record 12,200 whistleblower tips and issued a record $564 million in whistleblower awards to a record 108 individuals. Over the course of the year, the whistleblower program issued more awards than in all previous years combined.

“The SEC’s Dodd-Frank Act whistleblower program has revolutionized the detection and enforcement of securities law violations,” said whistleblower attorney Stephen M. Kohn of Kohn, Kohn & Colapinto. “Congress needs to pay attention to this highly effective anti-corruption program and enact similar laws to fight money laundering committed by the Big Banks, antitrust violations committed by Big Tech, and the widespread consumer frauds often impacting low income and middle class families who are taken advantage of by illegal lending practices, redlining, and credit card frauds.”

“The report documents that whistleblowing works, and works remarkably well, both in the United States and worldwide,” continued Kohn. “The successful efforts of the SEC to use whistleblower-information to police Wall Street frauds is a milestone in the fight against corruption. Every American benefits from this program.”

In the report, Acting Chief of the Office of the Whistleblower Emily Pasquinelli states “[t]he success of the Commission’s whistleblower program in landmark FY 2021 demonstrates that it is a vital component of the Commission’s enforcement efforts. We hope the awards made this year continue to encourage whistleblowers to report specific, timely, and credible information to the Commission, which will enhance the agency’s ability to detect wrongdoing and protect investors and the marketplace.”

Read the SEC Whistleblower Program’s full report.

Stephen Kohn is available for further comment and interviews on the matter.

Share This Story, Choose Your Platform!

Latest News & Insights

  • January 24, 2023

    Stephen M. Kohn, Esq. writes for Reuters outlining the massive impact the new AML Whistleblower Improvement Act will have in fighting Russian corruption.

  • January 24, 2023

    On January 24, the U.S. Securities and Exchange Commission (SEC) issued a $28 million award to joint whistleblowers who alerted the agency to ongoing fraud, allowing the SEC to return millions of dollars to harmed investors. Qualified SEC whistleblowers, individuals who voluntarily disclose original information that contributes to the success ...

  • January 19, 2023

    On January 19, the U.S. Securities and Exchange Commission (SEC) awarded $18 million to three whistleblowers who separately made disclosures which contributed to the success of  the same enforcement action. The whistleblowers’ voluntary disclosures led to millions of dollars being returned to harmed investors. Qualified SEC whistleblowers, individuals who voluntarily ...

  • January 13, 2023

    On January 12 and 13, the U.S. Securities and Exchange Commission (SEC) issued three separate whistleblower awards totaling over $6.2 million. The awarded whistleblowers voluntarily provided original information to the SEC that led to successful enforcement actions. Through the SEC Whistleblower Program, the SEC pays out monetary awards to qualified ...

Subscribe for News & Resources

Receive exclusive updates and news from our firm.