Sep. 15, 2020
Subject: File No. S7-16-18 From: Hassan Nasori Tehrani, CPA Affiliation: Professor of Economics ----------------------------------- September 15, 2020 The Securities and Exchange Commission has awarded more than $500 million to whistleblowers since the inception of the agencys whistleblower program in 2011. The whistleblower program was established by Congress to incentivize whistleblowers with specific, timely and credible information about federal securities laws violations to report to the SEC. Enforcement actions from whistleblower tips have resulted in more than $2 billion in financial remedies. How the Whistleblower Process Works graphic TOP 10 AWARDS By Award AmountBy Covered Action Listed by amount of each award issued: $50 million - March 19, 2018 $50 million - June 4, 2020 $39 million - September 6, 2018 $37 million - March 26, 2019 $33 million - March 19, 2018 $30 million - September 22, 2014 $27 million - April 16, 2020 $22 million - August 30, 2016 $20 million - November 14, 2016 $18 million - April 28, 2020 Tips by State Whistleblower tips submitted between 2011 - 2018 Whistleblower tips have also been submitted by individuals in 114 foreign countries between fiscal years 2011 and 2018. The top five were the United Kingdom (523), Canada (446), China (278), Australia (243), and India (213). This chart includes data from the date the whistleblower rules became effective on August 12, 2011, through the end of fiscal year 2018.