Last week, the Securities and Exchange Commission (SEC) amended the rules for its highly successful whistleblower program, which has issued roughly $527 million to whistleblowers since 2012.

Whistleblower attorneys from the qui tam law firm Kohn, Kohn & Colapinto (KKC) wrote an article for the Columbia Law School’s Blog on Corporations and the Capital Markets detailing the implications of the final rules and what the changes mean for SEC whistleblowers moving forward.

Stephen M. Kohn, a founding partner at KKC, and Siri Nelson, an associate attorney at the firm, met with SEC commissioners several times during the rulemaking process, which began in 2018.

According to Kohn and Nelson, whistleblowers scored a major victory when the SEC backed down from two proposals that would have devastated the whistleblower program.

Read more about the changes to the SEC Whistleblower Program