The following is from a blog about the records set by the SEC in FY2016, including a record in the SEC whistleblower reward program. It was originally posted on The Pickholz Law Offices’ website on October 12, 2016. To see the blog as originally published, please click here.
Yesterday, the Securities and Exchange Commission (“SEC”) announced that it set several records during fiscal year 2016, including a record in the SEC whistleblower reward program.
According to the SEC’s press release, the SEC gave out $57 million in awards to SEC whistleblowers during FY2016. Not only was this a record for the SEC whistleblower reward program, but it was more than had been awarded to SEC whistleblowers “in all previous years combined.” Less than two months ago, the SEC announced that it had exceeded $100 million in SEC whistleblower awards granted.
The press release also stated that during FY2016 the SEC “brought a record 548 standalone or independent enforcement actions”.
Among those record 548 standalone cases were two records for cases involving investment advisers or investment companies. The SEC’s 98 independent or standalone cases against investment advisers or investment companies was “the most ever” in a year for the SEC. The SEC’s total of 160 cases somehow involving investment advisers or investment companies broke a record, as well.
Another area where the SEC set a record was in Foreign Corrupt Practices Act (“FCPA”) cases, by bringing 21 FCPA-related cases during FY2016. For other types of cases that the SEC brings, see my prior post here.
These records coincide with an increase in SEC enforcement actions against public companies and their related subsidiaries over the last couple of years, which I reported on back in May.
For more information about the SEC whistleblower reward program or The Pickholz Law Offices’ SEC whistleblower practice, please click on the links to the right and top of this page.
If you would like to speak with an SEC whistleblower attorney, you can call Jason R. Pickholz at 347-746-1222.
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SEC whistleblower reward program