“Last week, SEC Chair Gary Gensler gave a speech at a celebration for National Whistleblower Day, which commemorates the first U.S. whistleblower law that was passed unanimously on July 30, 1778,” writes David Lynn at TheCorporatCounsel.net, who explains that the law passed after 10 whistleblowers reported wrongdoing by a superior officer in the Continental Navy. Gensler ticked off some stats in his speech, including that the SEC has paid out more than $900 million to nearly 180 whistleblowers through the SEC’s program administered by the Office of the Whistleblower. He also announced a more than $4 million bounty to four whistleblowers concerning two separate enforcement proceedings. Gensler took the anniversary opportunity to give his full-throated endorsement of whistleblowers and the positive impact they have on the financial markets. “Investors in our capital markets have benefited from the critical information provided by whistleblowers,” he said. “I believe deeply in whistleblower programs and look forward to building on the work of past Chairs to ensure the continued strength of the SEC’s program.” Check out Lynn’s piece here, including a link to Gensler’s speech.
