Jenner & Block

Partner Christian Bartholomew Discusses SEC Whistleblower Program

Jenner & Block Partner Christian R. Bartholomew is quoted throughout an article that examines the US Securities and Exchange Commission’s Office of the Whistleblower.  Titled “SEC Whistle-Blower Awards:  No Guarantees,” the article in Bloomberg BNA explains that the bounty program grants financial awards to qualified individuals who present original information to the SEC resulting in penalties and other sanctions totaling $1 million or more.  According to the article, most reports of corporate misconduct to the office don’t result in awards to claimants; the article examines reasons why the SEC might reject a claim.  A former SEC enforcement lawyer, Christian observes that the high number of tips that don’t lead to an enforcement action is partly due to “serial submitters” – claimants who repeatedly apply for awards based on information that has nothing to do with the case.  Overall, he notes, the program has taken “full flight” since its inception and has issued several multi-million awards.