FCPA investigations triggered by whistleblower reports are increasingly likely as the SEC whistleblower program matures. According to the 2015 Annual Report on the Whistleblower Program, 80 percent of employee or former employee whistleblowers raised their concerns internally to their supervisors or compliance personnel (or otherwise understood that the company knew of the violations) before reporting their tips to the Commission. In a guest article, Cravath’s David Stuart and Harry Black discuss why employees often feel compelled to report violations outside of the company after they have reported internally and suggest how companies can incentivize prompt internal reporting and decrease external disclosures without running afoul of SEC rules prohibiting a company or individual from impeding reports to the SEC. See “Implications of the SEC’s First-Ever Whistleblower Protection Enforcement Action” (Apr. 15, 2015).