What is the SEC Whistleblower Program?

SEC Whistleblower Program

The SEC Whistleblower Program offers awards to eligible whistleblowers who provide original information that leads to successful SEC enforcement actions with total monetary sanctions exceeding $1 million. A whistleblower may receive an award of between 10% and 30% of the total monetary sanctions collected in actions brought by the SEC and in related actions brought by other regulatory or law enforcement authorities. Unlike other whistleblower-reward programs, the SEC Whistleblower Program allows whistleblowers to submit tips anonymously if represented by an attorney in connection with their tip.

In 2010, Congress enacted the whistleblower-reward provisions in the Dodd-Frank Act to “motivate those with inside knowledge to come forward and assist the Government to identify and prosecute persons who have violated securities laws and recover money for victims of financial fraud,” S. Rep. No. 111-176, at 110 (2010). Notably, tips about any violation of the federal securities laws may lead to an SEC whistleblower award.

Since the inception of the SEC Whistleblower Program, the SEC has paid more than $387 million in awards to whistleblowers. The largest SEC whistleblower awards to date are $50 million, $39 million and $37 million. And according to the SEC Whistleblower Program’s 2018 Annual Report, the SEC is tracking over 900 matters in which a whistleblower’s tip has caused a Matter Under Inquiry or investigation to open, or has been forwarded to Enforcement staff for review and consideration in connection with an ongoing investigation.

SEC Whistleblower Program’s Success

The SEC Whistleblower Program, in its short history, has enabled the SEC to uncover significant investment fraud schemes and halt ongoing fraud. Since 2011, the SEC Whistleblower Office has received over 28,000 tips, some of which led to enforcement actions resulting in more than $2 billion in monetary sanctions from wrongdoers. The SEC Office of the Whistleblower has paid more than $385 million in awards to whistleblowers. In fiscal year 2018 alone, the SEC paid more than $168 million in awards to whistleblowers.

Anonymous Reporting to SEC Office of the Whistleblower

Under the rules of the SEC Whistleblower Program, whistleblowers have the ability to report anonymously if represented by an attorney. A skilled whistleblower attorney will be able to skillfully guide a whistleblower through the process, maximizing the likelihood that their identity is not revealed to unauthorized parties. The program also offers substantial protection against retaliation.

For more information on the SEC Whistleblower Program:

See our column in Forbes: One Billion Reasons Why The SEC Whistleblower-Reward Program Is Effective.
See our column in Going Concern: Sarbanes-Oxley 15 Years Later: Accountants Need to Speak Up Now More Than Ever.
See our post in Accounting Today: Whistleblower Protections and Incentives for Auditors and Accountants.

Tier 1 Law Firm Representing SEC Whistleblowers

If you have information about securities fraud or other violations, contact an experienced SEC whistleblower attorney at Zuckerman Law for a free, confidential consultation by calling us at 202-262-8959. Zuckerman Law, one of the nation’s leading law firms representing whistleblowers in whistleblower rewards and whistleblower retaliation claims, will work to quickly provide you with the highest-quality representation to maximize your likelihood of recovering and maximizing an SEC whistleblower award.

Click here to learn more about anti-retaliation protections for SEC whistleblowers under the Dodd-Frank Act and Sarbanes-Oxley Act.

To learn more about the SEC Whistleblower Program, download Zuckerman Law’s eBook: SEC Whistleblower Program: Tips from SEC Whistleblower Attorneys to Maximize an SEC Whistleblower Award:

How to Report Information to the SEC and Qualify for a SEC Whistleblower Award

SEC Whistleblower Attorneys

We have substantial experience investigating securities fraud schemes and preparing effective submissions to the SEC concerning a wide range of federal securities violations, including:

Top-Rated SEC Whistleblower Lawyers

We have assembled a team of leading whistleblower lawyers to provide top-notch representation to SEC whistleblowers. Recently Washingtonian magazine named two of our attorneys top whistleblower lawyers. U.S. News and Best Lawyers® have named Zuckerman Law a Tier 1 firm in Litigation – Labor and Employment in the Washington DC metropolitan area

Matt Stock is a Certified Public Accountant, Certified Fraud Examiner and former KPMG external auditor. As an auditor, Mr. Stock developed an expertise in financial statement analysis, internal controls testing and fraud recognition, and he uses his auditing experience to help whistleblowers investigate and disclose complex financial frauds to the government and obtain damages for retaliation. He is the lead author of SEC Whistleblower Program: Tips from SEC Whistleblower Attorneys to Maximize an SEC Whistleblower Award.
Both Bachman and Zuckerman served in senior positions at the Office of Special Counsel, where they oversaw investigations of whistleblower retaliation claims and whistleblower disclosures, and enforced the Whistleblower Protection Act.
Jason Zuckerman was recognized by Washingtonian magazine as a “Top Whistleblower Lawyer” in 2017, 2015, 2009, and 2007 selected by his peers to be included in The Best Lawyers in America® in the category of employment law (2011-2017), and selected by his peers to be listed in SuperLawyers(2012 and 2015-2017) in the category of labor and employment law. is rated 10 out of 10 by Avvo, based largely on client reviews, and rated AV Preeminent® by Martindale-Hubbell based on peer reviews.
Bachman and Zuckerman served on the Department of Labor’s Whistleblower Protection Advisory Committee, which makes recommendations to the Secretary of Labor to improve OSHA’s administration of federal whistleblower protections.
The firm has published extensively on whistleblower rights and protections, and regularly speaks nationwide at seminars and continuing legal education conferences. We blog about new developments in whistleblower law at the Whistleblower Protection Blog.

Protection Against Retaliation for SEC Whistleblowers

Several federal and state laws protect corporate whistleblowers. We routinely represent whistleblowers in Sarbanes-Oxley whistleblower retaliation cases. For an overview of SOX whistleblower protection, download our titled Sarbanes-Oxley Whistleblower Protection: Robust Protection for Corporate Whistleblowers:

Resources for SEC Whistleblowers

To find out more about the SEC Whistleblower Program from a leading SEC whistleblower law firm, see the following ollowing resources:

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