• (303) 876-0575

Law Offices of Elizabeth “Booka” Smith, LLC Blog


November 16, 2015: SEC Annual Report Reveals $37M in Bounty Awarded to SEC Whistleblowers in FY Ending 9/30/2015

On November 16, 2015, the U.S. Securities and Exchange
Commission released its Annual Report revealing that in the last fiscal year
(ending 9/30/2015) SEC Dodd-Frank Whistleblowers were paid out roughly $37M in
bounty awards. The SEC bounty program, which was created by the Dodd-Frank Act
of 2010, requires the SEC to pay bounties to eligible whistleblowers who provide
the SEC with information that leads to an enforcement action resulting in over
$1M in combined sanctions. Under Dodd-Frank, the SEC is required to award
successful whistleblowers a minimum bounty of 10% of the total sanctions collected.
The SEC is allowed to exercise its discretion to award up to 30% in bounty in
cases where the whistleblower more substantially enhanced the enforcement
action. The SEC Annual Report notes that 3,900 reports were filed this past
fiscal year, and 120 whistleblowers requested bounty awards. The SEC confirmed
that not all bounty seekers received awards and added that “[i]n general, the
more specific, credible and timely a whistleblower tip, the more likely it is
that the tip will be forwarded to the [SEC] enforcement staff.” The number of
reports is up 8% from the prior fiscal year. The SEC attributes the increase in
tips to an upswing in complaints about corporate disclosures and financials, as
well as trading and pricing issues on unregistered securities. If you believe
your employer may be violating the SEC rules and regulations, and/or the
Foreign Corrupt Practices Act, CONTACT US to schedule an initial consultation
to evaluate the likelihood of receipt of a bounty award and to discuss legal
representation designed to maximize the amount of any bounty award.

December 4, 2015: Supreme Court Slated to Consider...
October 19, 2015: Texas Court Denies Fluor's Motio...

By accepting you will be accessing a service provided by a third-party external to https://www.bookalaw.com/

1624 Market Street, Suite 202
Denver, CO, 80202

Tel (303) 876-0575
56 Road L, P.O. Box 601
Silverthorne, CO, 80498

Tel (303) 876-0575

Additional offices for meetings available in:
Boulder; Broomfield/Interlocken; Cherry Creek; Aurora; Downtown Denver; Denver Tech Center; Golden/ Lakewood; Littleton; Louisville and Park Meadows/Highlands Ranch

Disclaimer: Nothing in this website is intended in any way to form an attorney-client relationship or other contract. It is designed solely to provide general information about the practice at the Law Offices of Elizabeth “Booka” Smith. Be mindful of any deadlines you have approaching that relate to your legal situation, and make sure you meet them. The Law Offices of Elizabeth “Booka” Smith does not assume any responsibility for advice given regarding any aspect of your case until you have a signed legal services agreement engaging the firm’s representation. Though the Law Offices of Elizabeth “Booka” Smith may provide a free initial consultation, the firm retains complete discretion in every case to decide whether or not to take your case. The Law Offices of Elizabeth “Booka” Smith makes no guarantees, warranties, or predictions about your case, and past success of Booka Smith or the firm does not ensure the results will be the same.