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Statement in Honor of National Whistleblower Day

Gurbir Grewal photo

Gurbir S. Grewal
Director, Division of Enforcement

July 29, 2022

Over the past decade, the SEC’s whistleblower program has played a critical role in the Division of Enforcement’s ability to effectively detect wrongdoing, protect investors and the marketplace, and bring violators to justice. Since issuing its first award in 2012, the SEC has awarded more than $1.3 billion to 278 individuals.[1] With the help of these whistleblowers, the SEC brought enforcement actions ordering monetary sanctions of approximately $5 billion.[2] Fiscal year 2021, in particular, was a record-breaking year, with the SEC awarding a total of $564 million to 108 whistleblowers.[3] 

While whistleblowers’ contributions to the SEC’s mission have been invaluable, we recognize that blowing the whistle may not come without costs, both personal and professional. The SEC’s whistleblower rules prohibit any person from taking an action to impede another from contacting the SEC to report a possible securities law violation. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 also expanded protections for whistleblowers and broadened the prohibitions against retaliation by enabling the SEC to take legal action against employers who have retaliated against whistleblowers. Although individuals can choose to report their concerns internally, and many do, they must also report to the SEC to be eligible for Dodd-Frank anti-retaliation protections.[4] The Division remains active in, and committed to, investigating potential violations of the impeding reporting provisions and the anti-retaliation protections.[5] It is essential to the continued vitality of our program that whistleblowers know that we will take seriously any efforts to impede or retaliate against them.

We applaud the courage of whistleblowers who step forward and report unlawful conduct. Whistleblower protections are a cornerstone of the SEC’s whistleblower program and we are committed to enforcing these protections to stop efforts to impede individuals from coming forward with information. 


More Information:

Information about the SEC’s whistleblower program and award eligibility can be found on the Office of the Whistleblower’s website.

Individuals who have credible information about securities law violations are encouraged to submit their whistleblower tips and any additional information electronically through the Commission’s online portal

[1] Press Release 2022-125 SEC Issues More than $17 Million Award to a Whistleblower (July 19, 2022), available at

[2] U.S. Securities and Exchange Commission 2021 Annual Report to Congress, Whistleblower Program (Nov. 15, 2021), available at

[3] Press Release 2021-238, SEC Announces Enforcement Results for FY 2021 (Nov. 18, 2021), available at

[4] See Digital Realty Trust, Inc. v. Somers, 138 S. Ct. 767 (2018).

[5] See, e.g., Admin. Proc. File No. 3-20820, SEC Charges Co-Founder of Technology Company for Violating Whistleblower Protection Rule (Apr. 12, 2022), available at; Press Release 2021-24, SEC Charges Investment Adviser and Others with Defrauding Over 17,000 Retail Investors (Feb. 4, 2021), available at https:/; Lit. Release No. 24658, SEC Charges Issuer and CEO with Violating Whistleblower Protection Laws to Silence Investor Complaints (Nov. 4, 2019), available at

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