Thursday, January 28, 2021
Whistleblower Developments is a periodic report covering significant cases, decisions, proposals, and legislation related to whistleblower statutes and how they may impact your business. Recent developments include:
SEC Whistleblower Awards Accelerate, with Nearly 25% of Total Program Awards Issued in Q4 of 2020
The fourth quarter of 2020 saw approximately $176 million in whistleblower awards
1 – almost the same amount awarded in the entire previous fiscal year, which was itself a record-setting year.
2
This acceleration was driven in part by a record-setting $114 million whistleblower award issued on October 22, 2020 to a single whistleblower whose information and assistance led to successful SEC enforcement and related actions. The SEC characterized the whistleblower’s actions as “extraordinary” and noted that the claimant “suffered serious personal and professional hardships” as a result of making a report. Even without thi