The SEC Office of the Whistleblower received a record number of almost 5,300 tips in FY 2018, an increase of over 75 percent since FY 2012. In FY 2018 the SEC awarded more than $168 million in awards to whistleblowers. These awards included the two largest awards in the history of the program, $83 million to three whistleblowers in March 2018 and $54 million to two whistleblowers in September 2018.
The cost of inadequate internal reporting programs is now exceedingly costly for both a business and its Executives.
Our team can advise on best practices to prevent excessive settlements.
Highest amount for moral damages in Canadian employment law is $250,000
Highest amount for punitive damages in Canadian employment law is $500,000
Highest amount for punitive damages in a Canadian Insurance case is $1 million (Whiten v Pilot Insurance)
Highest whistleblower award from the OSC is $5 million