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Does the SEC have a line item in its budget for whistleblower awards? If so what do they do if there are a lot of cases to pay out? Can they run out of money fo
by dopamean 9y ago
Does the SEC have a line item in its budget for whistleblower awards? If so what do they do if there are a lot of cases to pay out? Can they run out of money for these things? I'd love to know what that process looks like.
- Tobani 9y agoI imagine that the whistleblowers get paid from the proceeds of fines levied due to the whistleblowing.
- deleted 9y ago[deleted]
- mikeyouse 9y agoThe whistleblower awards are typically a fixed percentage of the fines that the SEC levies (10% - 30% depending on circumstances). So if you blow the whistle on your company and the SEC fines them $100M, the SEC will get ~$80M and the whistleblower will get ~$20M. So in that sense, no, they can never run out of funds to pay them off. https://www.sec.gov/whistleblower https://www.sec.gov/whistleblower
- dopamean 9y agoAh yes. I remember hearing about this now. Thanks!
- deleted 9y ago[deleted]
- psergeant 9y agoThe linked article adds significant detail
- vl 9y agoIf you would trouble yourself with actually reading the article, you'll find explanation right there in the text.