SEC
Whistleblower
Attorneys
LANDMARK LAWSUIT FILED AGAINST SEC TO PROTECT ALL WHISTLEBLOWERS

What Factors Contribute to the SEC’s Decision?

Factors that Contribute to an Award

An SEC whistleblower award can range between 10-30% of the monetary sanctions collected in a qualifying enforcement action. Where the award falls is up to the agency’s discretion. Certain criteria may increase an award, such as the significance of the information provided by the whistleblower, the assistance provided by the whistleblower, the law enforcement interest in making an award and the participation of the whistleblower in internal reporting systems.

Both positive and negative factors are used to determine the award. Below are the factors, and how they appear to relate to the published awards.

In the 135 of 141 cases where information was disclosed...
Positive Factors
Signifigance of the Information Provided
91%
Assistance Provided
79%
Law Enforcement Interest
36%
Participation in Internal Compliance Systems
27%
Negative Factors
Culpability
1%
Unreasonable Reporting Delay
13%
Interference with Internal Compliance and Reporting Systems
1%
Factors that Contribute to an Award Denial
Breakdown of justifications cited in 235 denial orders
Ineligible Applicant
2%
Not Original Information
16%
Information Not Voluntarily Provided
3%
Information did not lead to a successful enforcement action
73%
Form and Manner of Submission/Application Did Not Comply With Program Rules
29%
Failed to Report a Securities Violation
4%
Applicant Knowingly Made False, Fictitious, or Fraudulent Statements or Representations
1%
None Disclosed
10%
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