SEC’s Whistle-Blower Program Reached Historically High Payouts in FY 2016

SEC HQs 2In fiscal year 2016, the SEC’s Office of the Whistleblower issued awards totaling over $57 million—a total higher than all awards issued in previous years combined. In addition, six of the 10 highest whistle-blower awards were made in FY 2016.

These new statistics are detailed in the SEC’s 2016 annual report to Congress on the bounty program, released Nov. 15.

According to the report, as of Sept. 30, the end of the agency’s fiscal year, the SEC had issued more than $111 million in awards to 34 whistle-blowers since the program’s establishment in August 2011.

The day before the SEC’s report was issued, the agency awarded more than $20 million to a whistle-blower, resulting in the third-largest award in the four-year history of the program. That award pushes the SEC’s bounty total to more than $130 million.

Whistle-blower tips, which have been steadily increasing, are also at an all-time high. In FY 2016, the SEC received approximately 4,218 tips, a more than 40 percent increase since FY 2012, the first year for which full-year data is available.

For more details on the SEC’s report to Congress, see SEC Whistleblower Award Total Reaches Record High.

For more on the agency’s recent $20 million award, see Whistling a Happy Tune: SEC Informant Receives $20 Million Award.