Regulatory: Most SEC whistleblowers tell company first

Office of the Whistleblower Chief reports that the program is working as planned

Sean McKessy, Chief of the Securities and Exchange Commission's (SEC) Office of the Whistleblower, recently reported that a “significant majority” of whistleblowers indicated that they used internal reporting channels before contacting the SEC.

During a March 14 interview, McKessy touted the progress of the SEC’s whistleblower program. The program, mandated by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, pays monetary awards to whistleblowers who provide the SEC with original information about a violation of the securities laws that leads to a successful SEC enforcement of an action that results in monetary penalties exceeding $1 million.

Contributing Author

author image

Jaime Guerrero

Jaime B. Guerrero is a partner and member of the Government Enforcement, Compliance & White Collar Defense and FCPA & Anti-Corruption Practices at Foley &...

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.