Mortgage banker’s failed appeal sheds light on opaque SEC bounty process

Jordan Thomas was quoted in a Reuters article by Alison Frankel published on Feb. 17, 2021. Along with another prominent whistleblower attorney, Jordan provided information concerning whistleblower appeals of SEC award determinations. He observed that litigated appeals are exceedingly rare, and that he had no awareness of such litigation ever being successful for a whistleblower.

The article focused on the SEC’s processes for making award determinations and justifying them. It emphasized that it is incumbent upon a whistleblower who provides information to another regulatory authority such as the DOJ to also personally provide it to the SEC, or they may be denied credit for it.