3K in Tips for SEC Whistleblower Office

The new Securities and Exchange Commission whistleblower office received almost 3,000 tips in its first year, MarketWatch reported on Thursday.

SEC Commissioner Luis Aguilar told enforcement officials gathered for an event that the whistleblower office, which opened in August 2011, receives an average of eight tips a day, for a total of 2,820 as of Aug. 8, 2012.  The tips have come from the U.S. and 45 foreign countries.

Aguilar also noted the improvement in the quality of information the agency received after implementing a Dodd-Frank program that gives whistleblowers a 10-to-30-percent share of enforcement cases that net a penalty of $1 million or more.

For more information, please see:

Contact one of our

Experienced Attorneys

If you are aware of any person, corporation or entity that you think may be violating the Federal False Claims Act or a State False Claims Act, contact us today.