Today, the Securities and Exchange Commission (SEC) Whistleblower Program announced record-breaking accomplishments in their 2020 annual report to Congress.
In fiscal year 2020, the SEC Whistleblower Program reported new milestones in number of tips received, whistleblower awards issued, and dollar amount of whistleblower awards issued.
“The SEC program is a tremendous success,” said whistleblower attorney Stephen M. Kohn, partner at qui tam law firm Kohn, Kohn & Colapinto. “The Commission has worked on a bi-partisan basis to hold Wall Street fraudsters accountable and protect the small investors. This is a model for other whistleblower programs to follow, and a testament to the importance of rewarding whistleblowers for their inside information.”
“All of the SEC Commissioners, its enforcement staff and the staff of the Office of the Whistleblower deserve the thanks from all Americans who have significantly benefited from their excellent work.”
The SEC Whistleblower Program was established under the Dodd Frank Act of 2010. Since issuing its first award in 2012, the program has granted over $560 million to 106 individuals.
Stephen M. Kohn was involved in the rulemaking process that led to the implementation of the Dodd Frank Act of 2010 and the rule changes of 2020. Mr. Kohn is available for comment.