January 24, 2022

Volume XII, Number 24

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January 24, 2022

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SEC Announces Two Whistleblower Awards of $3.6 Million and $750,000

Today, the Securities and Exchange Commission (SEC) announced two whistleblower awards issued to individuals who assisted the Commission with investigations into ongoing frauds.

The first whistleblower alerted the SEC to misconduct occurring overseas and provided assistance throughout the investigation, including traveling to another country to meet with Commission staff in person. For their efforts and the hardships they faced for blowing the whistle, this SEC whistleblower was issued $3.6 million.

The second whistleblower also met with Commission staff in person and provided information of fraud that helped the SEC continue their investigation. This SEC whistleblower was issued a $750,000 award.

“The record year for the SEC Whistleblower Program proves that whistleblowing works,” said whistleblower attorney Stephen M. Kohn, partner at Kohn, Kohn & Colapinto. “Providing whistleblowers with anonymity and confidentiality will result in more whistleblowers stepping forward, armed with insider information of fraud, and without fear of retaliation or reprisal.”

The SEC has issued approximately $719 million to 112 individuals since the Whistleblower Program was established under the Dodd Frank Act of 2010.

“Whistleblowers play an important role in helping to identify misconduct, and the assistance they provide can be integral to an investigation,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “Both whistleblowers who received awards today reflect these important contributions whistleblowers can make to the success of enforcement actions.”

Ben Kostyack also contributed to this article.

Copyright Kohn, Kohn & Colapinto, LLP 2022. All Rights Reserved.National Law Review, Volume X, Number 310
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About this Author

Mary Jane Wilmoth Whistleblower Attorney Kohn Kohn & Colapinto Law Firm
Managing Partner

Mary Jane Wilmoth is the firm’s managing partner. She litigated cases involving whistleblower protection for environmental and nuclear industry whistleblowers, and Qui Tam/False Claims whistleblowers. Ms. Wilmoth joined the firm in 1992 and worked on cases and hearings that involved complex nuclear and environmental regulations. In her efforts to uphold such safeguards in the American workplace, she has helped to strengthen whistleblower rights in licensing and...

202-342-6980
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