SEC Issues First Whistleblower Award Under the SEC Whistleblower Program

In August 2011, the Securities and Exchange Commission (SEC) opened its new Office of the Whistleblower, and at the same time its final rules implementing the whistleblower provisions of the Dodd-Frank Act became effective. Just over one year later, on August 21, 2012, the SEC announced its first whistleblower award under the program, for the maximum award amount permitted under the rules – 30% of the total money collected by the SEC. Sean McKessey, Chief of the SEC Office of the Whistleblower, stated that the SEC has been receiving around eight whistleblower tips a day since the office opened. “The fact that we made the first payment after just one year of operation shows that we are open for business and ready to pay people who bring us good, timely information,” McKessey said (see  

If you believe you have a tip under the SEC Whistleblower Program, contact attorney Ian McLoughlin at, or call (617) 439-3939 or (800) 287-8119. Alternately, click here to contact us through our website.