SEC Whistleblower Program Exceeds $100 Million in Awards Granted
The SEC announced yesterday that to date it has given out over $100 million in awards to SEC whistleblowers under its whistleblower award program.
This milestone comes just six years after the Dodd-Frank Act created the SEC Whistleblower Award Program, and just five years after the SEC implemented its formal procedures for its whistleblower program.
The SEC’s press release quotes SEC Chair Mary Jo White as stating that in the short time of the SEC whistleblower award program’s existence, it “has proven to be a game changer for the agency”. Ms. White’s remarks reaffirm her equally strong praise of the SEC Whistleblower Award Program during her testimony before a Committee of the United States Senate a few months ago, as I reported about previously.
Echoing Ms. White’s sentiments, the Director of the SEC’s Division of Enforcement stated: “The SEC whistleblower program has had a transformative impact on the agency, enabling us to bring high quality enforcement cases quicker using fewer resources.” He is further quoted as saying: “paying more than $100 million in whistleblower awards demonstrates the value that whistleblowers have added to our enforcement program.”
Likewise, the Acting Chief of the SEC’s Office of the Whistleblower called this “a watershed moment for the SEC’s whistleblower program.” “The SEC has issued more than $100 million in whistleblower awards in five years, demonstrating the invaluable information and assistance whistleblowers have provided to the agency and underscoring the program’s resounding success,” she added.
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About the Pickholz Law Offices LLC
The Pickholz Law Offices LLC is a law firm that focuses on representing clients involved with investigations conducted by the U.S. Securities and Exchange Commission, FINRA, and other securities regulators.
The Pickholz Law Offices has represented employees, officers, and others in SEC whistleblower cases involving financial institutions and public companies listed in the Fortune Top 10, Top 20, Top 50, Top 100, Top 500, and the Forbes Global 2000. We were the first law firm ever to win an SEC whistleblower award for a client on appeal to the full Commission in Washington. Inside Counsel magazine named this achievement one of the five key events of the SEC whistleblower program. Examples of the Firm’s SEC whistleblower cases are available here.
In addition to representing SEC whistleblowers, since 1995 the Firm’s founder, Jason R. Pickholz, has also represented many clients in securities enforcement investigations conducted by the SEC, FINRA, the U.S. Department of Justice and US Attorney’s Offices, State authorities, and more. Examples of some of the many securities enforcement cases that Mr. Pickholz has been involved with are available here.
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If you would like to speak with a securities lawyer or SEC whistleblower attorney, please feel free to call Jason R. Pickholz at 347-746-1222.
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