SEC and CFTC Whistleblower Awards Continue to Grow

The Dodd-Frank Act amended both the Securities Exchange Act of 1934 and the Commodity Exchange Act  to create whistleblower bounty programs, both of which took effect in late 2011 and have since borne fruit for regulators. The SEC and CFTC recently released their respective whistleblower program annual reports. The SEC’s 2018 Annual Report to Congress indicates that fiscal year 2018 was a banner year, with the highest number of tips and the highest individual and aggregate award payments in the history of that program. The CFTC’s 2018 Annual Report also reflects a record number of tips and aggregate and individual awards. This article summarizes the key takeaways from each report. See “Promoting Values to Encourage Reporting and Discourage Retaliation” (Feb. 21, 2018).

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