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SEC awards $60 Million to Whistle-blowers in 2019

The SEC has continued with awarding whistle-blowers huge sums for coming forward and informing on illegality. Already in 2020 awards have reached the $60 million awarded in 2019.

The latest award went to a whistle-blower who the SEC acknowledged had provided information that substantially contributed to the investigation – the information received would not have been available without the whistle-blower.

In total the SEC has awarded $398 million to 78 individuals (an average of $5.1 million) since it started in 2012. These payments only represent from 10 to 30 percent of the total recoveries from businesses found culpable through the whistle-blowers information.

While the financial cost of recovery/fines is visible, what is less easy to establish is the cost of loss of reputation. Corporate business, especially in the financial industry, rely on consumer trust and this is heavily eroded when the headlines hit the high street.

Our partners benefit from internal whistle-blowing processes that result in remediation internally without external negative press or financial penalty.

Contact us to protect your reputation.