Whistleblower
Advocates
Award Winning Attorneys
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.
| Date | Description | Denial Justification | Key Docs |
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| 5/16/2014 | The SEC whistleblower award claimant's application was denied because he/she was found not to have submitted 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). Claimant argued for waiver of this requirement because of prior engagement with the SEC and lack of earlier knowledge of the SEC Whistleblower Program, but the Commission refused to exercise this discretion because it did not find extraordinary circumstances, when analyzing the PennMont factors. |
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| 5/12/2014 | The SEC whistleblower award claimant submitted applications for award in 143 separate Covered Actions. The SEC found that the Claimant had knowingly made false, fictitious, or fraudulent statements and representations to the Commission over a course of years. Accordingly, the Claimant was found ineligible for these and all future whistleblower awards. |
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| 4/03/2014 | SEC whistleblower award claimant 1's application was denied because the Commission found that he did not provide original information to the Staff after July 21, 2010, as required by Rule 21F-4(b)(1)(iv). Even if it had been provided in a timely manner, it was deemed not to have led to the successful enforcement action. Claimant 2's application was denied because he/she was found not to have submitted 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). |
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| 3/24/2014 | The Claimant did not provide original information to the Commission after July 21, 2010, as required by Rule 21F-4(b)(1)(iv). The Claimant also 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). |
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| 3/09/2014 | The SEC whistleblower award claimant did not provide original information to the Commission after July 21, 2010, as required by Rule 21F-4(b)(1)(iv). The Claimant also 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). |
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| 3/09/2014 | The SEC whistleblower award claimant did not provide original information to the Commission after July 21, 2010, as required by Rule 21F-4(b)(1)(iv). The claimant also 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). |
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| 10/30/2013 | The SEC whistleblower award claimant did not provide original information to the Commission after July 21, 2010, as required by Rule 21F-4(b)(1)(iv). Even if he/she had, the SEC found that the Claimant's information 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. The claimant challenged these two propositions, along with the fairness of the proceeding. In a lengthy order, the Commission cites facts and authority in support of its arguments that Dodd-Frank does not apply retroactively, the post Dodd-Frank disclosures to the Commission did not significantly contribute to the success of the enforcement action and denies that the proceeding was not fair. |
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| 8/27/2013 | The SEC whistleblower award claimant did not provide original information to the Commission after July 21, 2010, as required by Rule 21F-4(b)(1)(iv). |
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| 7/02/2013 | The SEC whistleblower award claimant did not provide original information to the Commission after July 21, 2010, as required by Rule 21F-4(b)(1)(iv). |
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| 6/12/2013 | The SEC whistleblower award claimant did not provide original information to the Commission after July 21, 2010, as required by Rule 21F-4(b)(1)(iv). Even if he/she had, the SEC found that the Claimant's information 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. |
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