Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 24 MAY 2023

U.S. Securities And Exchange Commission Issues $279 Million Whistleblower Payout

Buchanan Ingersoll & Rooney
Explore more from Buchanan Ingersoll & Rooney

On May 5, 2023, the U.S. Securities and Exchange Commission (SEC) announced it awarded an undisclosed whistleblower almost $279 million for their assistance in an investigation that led to three successful...

United StatesEmployment and HR
Allison L. Borgatti
Allison L. Borgatti
George M. Karavetsos
George M. Karavetsos
Richard Montes de Oca
Richard Montes de Oca
Maxwell C. Ruocco
Maxwell C. Ruocco
Author LinkedIn connections

On May 5, 2023, the U.S. Securities and Exchange Commission (SEC) announced it awarded an undisclosed whistleblower almost $279 million for their assistance in an investigation that led to three successful enforcement actions by the regulator and two related actions. This is the highest award in the SEC's whistleblower program's history.

Whistleblower's Voluntary Disclosure and Full Cooperation Led to Historic Award

The SEC's Order Determining Whistleblower Award Claims, Exchange Act Rel No. 97438 (May 5, 2023), indicates that there were three whistleblowers involved in the Commission's investigation; however, only one was awarded the record award.

The Order goes on to state that the unidentified whistleblower voluntarily provided "significant" information that expanded the investigation, saved the regulator significant time and resources, and provided substantial, ongoing assistance, including written submissions, communications, and interviews.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

IRS Issues New Revenue Procedure

The IRS has released Revenue Procedure 2026-24, establishing new inflation-adjusted limits for Health Savings Accounts and high-deductible health plans effective in 2027. These updates include increased contribution limits, higher minimum deductibles, and expanded out-of-pocket maximums, along with new provisions for direct primary care service arrangements under the One, Big, Beautiful Bill Act. How will these changes impact employee benefit planning and healthcare coverage strategies?
United StatesEmployment and HR
Winston Taylor
Winston Taylor
Article

Treasury Issues Temporary Regulations On Trump Accounts And Contributions

The U.S. Department of the Treasury and IRS recently issued temporary regulations that provide an immediately effective framework for establishing and administering “Trump Accounts,” including broad automatic enrollment and large-scale contributions funded by governmental and charitable donors. The regulations became effective September 30, 2026, apply to taxable years beginning on or after January 1, 2026, and expire September 30, 2029.
United StatesEmployment and HR
Fennemore Craig, P.C.
Fennemore Craig, P.C.
Article

Allegheny County Council Passes Paid Parental Leave Policy

On Tuesday, October 20, 2026, the Allegheny County Council passed legislation requiring employers with at least 15 workers to provide 12 weeks of paid parental leave, ending months-long debate on the proposal. We previously reported on the initial 18-week proposal in May 2026 (summarized here), the revised proposed legislation (summarized here), and the Allegheny County Board of Health passing the legislation (summarized here). The measure was passed in an 11-4 vote. It will become effective in one year, as County Executive Sara Innamorato signed the bill on, October 22, 2026.
United StatesEmployment and HR
Buchanan Ingersoll & Rooney
Buchanan Ingersoll & Rooney
Article

DOL Announces Enforcement Actions Against Employers In H-1B And PERM Fraud Probe

The Trump Administration has launched an unprecedented enforcement action suspending permanent labor certification processing for eight major employers, linking immigration sponsorship to layoff histories and recruitment practices. This development signals a fundamental shift in how the government evaluates employer access to H-1B and green card programs, with investigations already underway and subpoenas served.
United StatesEmployment and HR
Mayer Brown
Mayer Brown
Article

Countdown To Compliance: Employer Preparations For Nov. 2026 OSHA HazCom Deadlines

OSHA's revised Hazard Communication Standard requires covered employers to update chemical labels, written hazard communication programs, and employee training by November 20, 2026. The revisions align with the UN's Globally Harmonized System and introduce new hazard classifications, downstream use considerations, and updated requirements for compressed gases and aerosols. Employers must navigate separate compliance timelines for chemical mixtures while ensuring their workplace practices meet the updated st
United StatesEmployment and HR
Jackson Lewis P.C.
Jackson Lewis P.C.
Article

Allegheny County Council Passes Paid Parental Leave Policy

On Tuesday, October 20, 2026, the Allegheny County Council passed legislation requiring employers with at least 15 workers to provide 12 weeks of paid parental leave, ending months-long debate on the proposal. We previously reported on the initial 18-week proposal in May 2026 (summarized here), the revised proposed legislation (summarized here), and the Allegheny County Board of Health passing the legislation (summarized here). The measure was passed in an 11-4 vote. It will become effective in one year, as County Executive Sara Innamorato signed the bill on, October 22, 2026.
United StatesEmployment and HR
Buchanan Ingersoll & Rooney
Buchanan Ingersoll & Rooney
Article

Tenth Circuit Stays Nationwide Eligibility Injunction For Class Of 2022 In Wisne v. NCAA

On August 21, 2026, the Tenth Circuit granted the NCAA’s stay request in Wisne v. NCAA, temporarily restoring the NCAA’s age-based eligibility rules pending resolution of the appeal. Three weeks earlier, Judge Sweeney of the District of Colorado had issued a nationwide injunction that permitted athletes in the Class of 2022 to pursue a fifth year of eligibility.
United StatesLitigation, Mediation & Arbitration
Buchanan Ingersoll & Rooney
Buchanan Ingersoll & Rooney
Article

NCAA Enjoined From Enforcing New Fifth-Year Eligibility Rule

A federal court has issued a nationwide injunction blocking the NCAA from enforcing its new five-year eligibility rule against Division I athletes who graduated high school in 2022. The ruling creates immediate compliance challenges for athletic departments as they navigate roster management, revenue-sharing caps, and potential penalties while the NCAA appeals the decision.
United StatesConsumer Protection
Buchanan Ingersoll & Rooney
Buchanan Ingersoll & Rooney
Article

Update On CAPE Phase 3 Duty Refunds From U.S. Customs And Border Protection

U.S. Customs and Border Protection has announced that importers with court orders for IEEPA duty refunds on finally liquidated entries can begin filing for those refunds starting October 6, 2026, through the CAPE Phase 3 system. This development follows the Supreme Court's February 2026 decision striking down IEEPA tariffs and represents a critical step for importers seeking refunds on entries liquidated for more than 80 days.
United StatesInternational Law
Buchanan Ingersoll & Rooney
Buchanan Ingersoll & Rooney
Article

Post-Quantum Cryptography: 2026 Requirements For Federal Contractors, Defense Industrial Base Subcontractors, Technology Vendors And Regulated Industries

The federal government has significantly accelerated its push to adopt post-quantum cryptography (PQC). Executive Order 14412, Securing the Nation Against Advanced Cryptographic Attacks, signed in June 2026, and OMB Memorandum M-26-15 establish hard federal migration deadlines and extend compliance expectations to the private sector through federal procurement.
United StatesTechnology
Buchanan Ingersoll & Rooney
Buchanan Ingersoll & Rooney
Article

Defense Counterintelligence And Security Agency Report Reveals Threats To U.S. Cleared Industry

The Defense Counterintelligence and Security Agency has released its 2026 annual report revealing alarming trends in foreign exploitation of U.S. cleared contractors and sensitive technologies. With over 22,000 suspicious contact reports and 2,900 identified incidents in FY 2025, the report exposes how foreign entities systematically target subject matter experts and leverage cyber operations to access classified information. The analysis highlights critical shifts in threat patterns, communication methods,
United StatesGovernment, Public Sector
Buchanan Ingersoll & Rooney
Buchanan Ingersoll & Rooney
Article

FDA Submits Interim Peptide Compounding Policy For White House Review: What Pharmacies Should Know

FDA has submitted an interim access policy for peptide compounding to the Office of Management and Budget for review, marking a potential shift in federal enforcement. While the submission signals regulatory progress, the policy's scope, covered substances, and operational requirements remain undisclosed, leaving compounding pharmacies to navigate uncertainty about which peptides will qualify and under what conditions they may be prepared.
United StatesFood, Drugs, Healthcare, Life Sciences
Buchanan Ingersoll & Rooney
Buchanan Ingersoll & Rooney