The SEC Whistleblower office processes whistleblower tips. For each year that the SEC whistleblower program has been in operation, it has received an increasing number of whistleblower tips. Since August 2011, the SEC has received a total of 14,116 whistleblower tips. Additionally, in Fiscal Year 2015 alone, the SEC received almost 4,000 whistleblower FormTCRs.
Form TCRs are the forms created by the SEC. These forms are available online and can be accessed through the SEC website. In order to be eligible to receive an SEC whistleblower award, the individual must complete and submit an SEC Form TCR.
The table below shows the number of tips received by the SEC whistleblower office on a yearly basis. Because the Whistleblower Rules became effective August 12, 2011, only 7 weeks of whistleblower data is available for Fiscal Year 2011.
Whistelblowers submit SEC Whistleblower tips on a Form TCR and mail it in or through the online portal. On these Form TCRs, whistleblowers are asked to identify the nature of their complaint allegations. For Fiscal Year 2015, the SEC whistleblower office reported the most common complaint categories. These categories include:
- Corporate Disclosures and Financials (17.5%),
- Offering Fraud (15.6%), and
- Manipulation (12.3%).
The chart reflects the number of SEC whistleblower tips received by the SEC whistleblower office in Fiscal Year 2015. The chart lists the tips by allegation type.
In addition to the SEC whistleblower program, run out of the SEC whistleblower office, there are other whistleblower programs. This includes the Motor Vehicle Safety Whistleblower Act, Federal and State False Claims Act, and the California Insurance Fraud Prevention Act or CIFPA. Each of these programs allow individuals with knowledge of fraud to come forward and obtain a percentage of the reward if the case is successful.
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