ARTICLE
30 November 2011

SEC Releases 2011 Report On Whistleblower Bounty Program

SE
Stikeman Elliott LLP

Contributor

Stikeman Elliott LLP logo
Stikeman Elliott is a global leader in Canadian business law and the first call for businesses working in and with Canada. We provide clients with the highest quality counsel, strategic advice, and creative solutions. Stikeman Elliott consistently ranks as a top law firm in our primary practice areas. www.stikeman.com
The U.S. Securities and Exchange Commission recently released its 2011 annual report on the whistleblower bounty program adopted earlier this year.
Canada Finance and Banking

The U.S. Securities and Exchange Commission recently released its 2011 annual report on the whistleblower bounty program adopted earlier this year. The program was designed to award whistleblowers who voluntarily provide original information to the SEC regarding violations of securities laws where the enforcement action leads to monetary sanctions totalling more than $1 million.

According to the report, 334 whistleblower tips were received between August 12, 2011, when the final rules became effective, and September 30. The most common complaint categories were market manipulation, corporate disclosures and financial statements, and offering frauds. The SEC has yet to pay any whistleblower awards.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More