With approximately $1.2 billion paid to whistleblowers and nearly $5 billion in financial remedies collected, the Securities and Exchange Commission’s (SEC) whistleblower program is considered the gold standard by many.

But there are weak points, even the program’s biggest fans would agree.

Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...