Clifford Chance
US Regulatory Update: SEC Issues First Annual Whistleblower Report
17 November 2011
On November 15, 2011, the US Securities and Exchange Commission ("SEC") Office of the Whistleblower ("Office") issued the Annual Report on the Dodd-Frank Whistleblower Program for Fiscal Year 2011 ("Report"). The Report provides important insights into the controversial whistleblower program. As discussed in more detail below, the SEC received 334 tips in the program’s first 7 weeks. Those tips have been dispersed across a broad range of violations and have emanated from across the United States and the globe. In short, the bounties offered by the program have attracted significant attention at the outset of the program.
