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Welcome to the Whistleblower Wiki

Zuckerman Law’s Whistleblower Law Wiki provides an overview of the major laws providing rewards or incentives for whistleblowing and laws that protect whistleblowers against retaliation. The wiki includes links to key statutes, regulations, legislative history, articles, and other sources of information.

Zuckerman Law maintains this resource to help inform whistleblowers about their rights and navigate the complex weave of federal and state whistleblower laws. Matt Stock and Jason Zuckerman encourage readers to inform them of any errors or suggested updates.

Information on this wiki is provided for informational purposes only and should not be construed as or relied upon as legal advice. This wiki may be deemed attorney advertising. If you are seeking advice concerning a whistleblower reward or whistleblower retaliation matter, contact experienced counsel. Matt Stock and Jason Zuckerman are responsible for the content on this wiki.

SEC Whistleblower Program

Under the SEC Whistleblower Program, the SEC will issue awards to whistleblowers who provide original information that leads to enforcement actions with total monetary sanctions (penalties, disgorgement, and interest) in excess of $1 million. In exchange for the valuable information, a whistleblower may receive an award of between 10% and 30% of the total monetary sanctions collected.

In determining an award percentage, the SEC considers the particular facts and circumstances of each case. For example, positive factors that may increase an award percentage include the significance of the information, the level of assistance provided by the whistleblower and the whistleblower’s attorney, and the law enforcement interests at stake. On the other hand, negative factors that may decrease an award percentage include unreasonable delay in reporting the violation to the SEC and the culpability or involvement of the whistleblower in the violation.

Under the SEC Whistleblower Reward Program, whistleblowers can submit tips anonymously to the SEC through an attorney and be eligible for an award for exposing any material violation of the federal securities laws.

Contents

1. Overview
2. Awards History: SEC Whistleblower Program A Success
3. SEC Office of the Whistleblower
4. Securities Law Violations that Qualify for an SEC Whistleblower Award
5. Lessons Learned from SEC Whistleblower Award Determinations
6. Prevailing in a Retaliation Whistleblower Case With Prior Performance Problems
7. Submitting a Tip Anonymously to the SEC Office of the Whistleblower
8. 10-Step Summary of the SEC Whistleblower Process
9. Employment Protections Available for SEC Whistleblowers
10. Largest SEC Whistleblower Awards
11. International Schemes and SEC Enforcement Actions

CFTC Whistleblower Program

The CFTC Whistleblower Reward Program provides whistleblowers with a strong monetary incentive, as well as anti-retaliation protections, for reporting wrongdoing to the CFTC. This includes violations or fraud in connection with:

• Commodity futures
• Commodity options
• Swap trading markets
• Derivatives
• Foreign corrupt practices

Approximately 65% of whistleblower cases filed at the CFTC involved charges of commodities fraud, market manipulation schemes, and spoofing. Whistleblower tips to CFTC have helped drive record-level enforcement activity.

Since 2014, the CFTC has issued more than $120 million in awards to whistleblowers. The largest CFTC whistleblower awards to date are $45 million, $30 million, and $10 million. Whistleblower disclosures have enabled the CFTC to recover nearly $1 billion.