More Regulators Eye Whistleblower Award Programs Hoping for Insider Tips – WSJ

The U.S. Securities and Exchange Commission received 18,354 tips and awarded nearly $600 million in fiscal year 2023, the highest annual amount in the program’s history. An SEC spokesman said the agency has given out $35.8 million to whistleblowers so far this fiscal year, which ends Sept. 30. The U.S. Commodity Futures Trading Commission received 1,530 whistleblower tips and awarded nearly $16 million in fiscal year 2023.

The success of the two highest-profile U.S. whistleblower award programs, established by the 2010 Dodd-Frank Act, are influencing how the new director of the Serious Fraud Office, Nick Ephgrave, thinks about motivating tipsters. At an event hosted by think tank Royal United Services Institute in London in February, Ephgrave pointed out that more than 700 whistleblowers from the U.K. have engaged with U.S. law enforcement since 2012.

Source: More Regulators Eye Whistleblower Award Programs Hoping for Insider Tips – WSJ