415 Million Reasons Why It's Time To Hug A Whistleblower

Law360, New York (July 22, 2016, 12:44 PM EDT) -- As we approach the fifth anniversary of the adoption of the U.S. Securities and Exchange Commission whistleblower program rules, we are finally seeing the new enforcement paradigm come to fruition. To date, the program has enjoyed steady growth. Looking merely at submissions, in its fiscal 2015 report to Congress, the Office of the Whistleblower revealed that it had received nearly 4,000 tips during the year, a 30 percent increase since 2012. While the numbers have been consistently positive since the program's inception, we're now seeing an altogether different kind of momentum. In late June, as a result of multiple whistleblowers, Merrill Lynch agreed to a landmark settlement with the SEC totaling a jaw-dropping $415 million....

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