What is the SEC whistleblower program?

The SEC Whistleblower Program is a program created by the U.S. Securities and Exchange Commission (SEC) to protect and incentivize individuals to report violations of securities laws. It was established under the Dodd-Frank Wall Street Reform and Consumer Protection Act, which amended the Securities Exchange Act of 1934. The program allows individuals to report any suspicious activity or securities law violations to the SEC, and receive compensation if the SEC brings successful enforcement action. The SEC protects the confidentiality and anonymity of the whistleblower, provides rewards to whistleblowers who provide tips leading to successful enforcement actions, and prohibits employers from retaliating against whistleblowers. The SEC pays awards to eligible individuals who provide original information to the SEC that leads to successful enforcement actions that result in monetary sanctions of over $1 million. The award is up to 30% of the money collected by the government, and can be up to $30 million. The SEC also provides special protections for whistleblowers who report securities violations to their employers first. The SEC Whistleblower Program is a valuable tool for protecting investors, detecting fraud and violations of securities laws, and rewarding individuals for their contribution to the security of our financial markets. It helps to ensure that securities laws are being followed, and ultimately serves to protect investors in California and beyond.

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What is the SEC whistleblower program?

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