SEC WHISTLEBLOWER PROGRAM

SEC WHISTLEBLOWER APPLICATIONS DENIED TO DATE

The truth is, of the 7,000 or so submissions the SEC receives each year, the lion’s share never even make it to an investigative team. (Sidebar: our submissions usually do.) Nearly half of those denials didn’t make the cut because the submissions didn’t follow the program rules.

This keeps us awake at night.

SEC Whistleblower Awards to Date Key Considerations

Eligibility Requirements

Date	Description	Denial Justification	Key Docs
11/27/2019	Claimant's application was denied because the Commission found that the information provided did not lead to a successful enforcement action. The information was deemed not to have caused the Staff to open a new investigation or examination, nor did it significantly contribute to the success of an ongoing investigation.	Information Did Not Lead to the Successful Enforcement Action	Order
11/27/2019	Claimant's application was denied because the Commission concluded that the information he/she provided did not lead to a successful enforcement action. The information was deemed not to have caused the Staff to open a new investigation or examination, nor did it significantly contribute to the success of an ongoing investigation. Furthermore, Claimant's applications was denied because the Commission found that they failed to make their submissions in accordance with the form and manner required by the program rules, as set forth in Rule 21F-9(a).	Form and Manner of Submission/Application Did Not Comply With Program Rules Information Did Not Lead to the Successful Enforcement Action	Order
11/26/2019	Claimant's application was denied because the Commission found that the information provided did not lead to a successful enforcement action. The information was deemed not to have caused the Staff to open a new investigation or examination, nor did it significantly contribute to the success of an ongoing investigation.	Information Did Not Lead to the Successful Enforcement Action	Order
10/11/2019	Claimant's application was denied because the Commission found that the information provided did not lead to a successful enforcement action. The information was deemed not to have caused the Staff to open a new investigation or examination, nor did it significantly contribute to the success of an ongoing investigation.	Information Did Not Lead to the Successful Enforcement Action	Order
9/28/2019	Claimant's application was denied because the Commission found that the information provided did not lead to a successful enforcement action. The information was deemed not to have caused the Staff to open a new investigation or examination, nor did it significantly contribute to the success of an ongoing investigation.	Information Did Not Lead to the Successful Enforcement Action	Order
9/27/2019	Claimant's application was denied because the Commission found that the information provided did not lead to a successful enforcement action. The information was deemed not to have caused the Staff to open a new investigation or examination, nor did it significantly contribute to the success of an ongoing investigation.	Information Not Voluntarily Provided	Order
9/27/2019	Claimant's application was denied because the Commission found that the information provided did not lead to a successful enforcement action. The information was deemed not to have caused the Staff to open a new investigation or examination, nor did it significantly contribute to the success of an ongoing investigation.	Information Did Not Lead to the Successful Enforcement Action	Order
9/27/2019	Both claimants applications were denied because the Commission found that the information provided did not lead to a successful enforcement action. The information was deemed not to have caused the Staff to open a new investigation or examination, nor did it significantly contribute to the success of an ongoing investigation. Furthermore, one claimant did not submit the required Form WB-APP to the Office of the Whistleblower within ninety calendar days of the Notice of Covered Action, as required by Rule 21F-10(b). The other claimant was deemed not to be a "whistleblower" within the meaning of the rules because he/she indicated on the TCR form that they were not submitting the tip to the SEC Whistleblower Program and failed to sign the required declaration.	Failed to Report a Securities Violation Form and Manner of Submission/Application Did Not Comply With Program Rules Information Did Not Lead to the Successful Enforcement Action	Order
9/09/2019	Claimant's application was denied because the Commission found that the information provided did not lead to a successful enforcement action. The information was deemed not to have caused the Staff to open a new investigation or examination, nor did it significantly contribute to the success of an ongoing investigation.	Information Did Not Lead to the Successful Enforcement Action	Order
8/19/2019	Claimant's application was denied because the Commission found that the information provided did not lead to a successful enforcement action. The information was deemed not to have caused the Staff to open a new investigation or examination, nor did it significantly contribute to the success of an ongoing investigation.	Information Did Not Lead to the Successful Enforcement Action	Order