- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-11-15T23:08:00
The SEC announced more whistleblower awards to more recipients in fiscal year 2021 than all prior years combined, according to the agency’s annual report to Congress.
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The Securities and Exchange Commission will seek to undo several changes to the agency’s whistleblower program enacted during the Trump administration to potentially limit large awards.
A former Korean safety engineer with Hyundai will receive the first whistleblower award from the National Highway Traffic Safety Administration: A $24.3 million payment for information regarding engine safety issues in 1.6 million Hyundai and Kia vehicles sold in the U.S.
The Commodity Futures Trading Commission paid out what is believed to be the largest-ever whistleblower award to an individual—nearly $200 million—who provided credible information to open investigations launched by the CFTC, another U.S. regulator, and a foreign regulator.
The Consumer Financial Protection Bureau is warning companies against intimidating potential whistleblowers by forcing them to sign broad nondisclosure agreements to deter misconduct from coming to light.
A whistleblower will be paid $37 million by the Securities and Exchange Commission for providing original, credible information that led to a successful enforcement action.
Anonymous employees of OpenAI accused the company of requiring employees to sign nondisclosure agreements (NDAs) that “prohibited and discouraged” them from reporting securities law violations to federal regulators.
