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2017-2018 SEC whistleblowing review: insights and trends

Deborah Meshulam (DLA Piper in Washington, DC, USA)
Louis Ramos (DLA Piper in Washington, DC, USA)
Benjamin Klein (DLA Piper in Washington, DC, USA)

Journal of Investment Compliance

ISSN: 1528-5812

Article publication date: 2 July 2018

Issue publication date: 14 August 2018




The purpose of this review is to unpack 2017-2018 US Securities and Exchange Commission (SEC) whistleblower developments and trends.


This paper draws on statistics in the SEC’s 2017 Annual Report to Congress on the Whistleblower Program and examines post-report SEC whistleblower activity, including three SEC whistleblower awards in March 2018 totaling $80 million+.


Several notable whistleblowing developments and trends have emerged in recent years, including an increase in total tips; an increase in international tips; higher-value awards, including multiple awards in excess of $20m; and interest in punishing companies that discourage and/or retaliate against whistleblowers. In addition, the SEC recently issued its first-ever award under the Exchange Act’s “safe harbor” provision.


This paper contains valuable insights about the activities and priorities of the SEC Office of the Whistleblower from experienced securities and white-collar-litigation lawyers.



Meshulam, D., Ramos, L. and Klein, B. (2018), "2017-2018 SEC whistleblowing review: insights and trends", Journal of Investment Compliance, Vol. 19 No. 2, pp. 5-7.



Emerald Publishing Limited

Copyright © 2018 DLA Piper LLP (US).

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