{"id":5702,"date":"2014-11-22T00:00:00","date_gmt":"2014-11-22T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/11\/sec_issues_2014_whistleblower"},"modified":"2022-03-11T13:34:02","modified_gmt":"2022-03-11T19:34:02","slug":"sec-issues-2014-whistleblower","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-issues-2014-whistleblower\/","title":{"rendered":"SEC Issues 2014 Whistleblower Program Report"},"content":{"rendered":"\n

According to the Securities and Exchange Commission\u2019s 2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program, the regulator issued nine whistleblower awards, including one $30 million award issued to one whistleblower. <\/p>\n

The report states that over 40% of those who received awards were either former or present employees of the companies on which they reported. 80% of these whistleblowers tried to bring up the issues to the companies first before going to the regulator. They only approached the regulator after an employer did not act to rectify the misconduct. Whistleblower award recipients also included fraud victims, individuals with personal ties to the fraudsters, consultants, and contractors. <\/p>\n

The SEC also noted that it brought its first enforcement action against an employer that retaliated against a whistleblower. The Dodd-Frank Act has an anti-retaliation program that is supposed to protect individuals who bring a whistleblower claim. In that action, Paradigm Capital Management got into trouble for retaliating against a trader who told the SEC that the firm had taken part in allegedly unlawful transactions. Paradigm was ordered by the SEC to pay $2.2 million to resolve the employee\u2019s retaliation claim. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

According to the Securities and Exchange Commission\u2019s 2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program, the regulator issued nine whistleblower awards, including one $30 million award issued to one whistleblower. The report states that over 40% of those who received awards were either former or present employees of the companies on which they […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3760,3761,3938],"tags":[],"class_list":["post-5702","post","type-post","status-publish","format-standard","hentry","category-sec-enforcement","category-securities-and-exchange-commis","category-whistleblowers"],"yoast_head":"\nSEC Issues 2014 Whistleblower Program Report — Investor Lawyers Blog — November 22, 2014<\/title>\n<meta name=\"description\" content=\"According to the Securities and Exchange Commission\u2019s 2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program, the regulator issued nine — November 22, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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