- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-01-14T19:46:00
The Securities and Exchange Commission has announced over $176 million in whistleblower awards in the first four months of the current fiscal year, already more than any other year in its history.
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Two whistleblowers sought to undermine each other in vying for the majority of a $22 million award issued by the SEC regarding malfeasance reported at a financial services firm.
A pair of tipsters were awarded over $50 million by the SEC in the agency’s second-largest payout under its successful whistleblower program.
The head of the Securities and Exchange Commission’s whistleblower program, Jane Norberg, will leave her post later this month.
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.
