Posted on Dec 28, 2019 2021 at 12:26Updated 28 Dec. 2021 at 16:50
The numbers are staggering. In total, in 2021, the US stock market policeman pronounced some 3.8 billion dollars in sanctions and adjustments for “ill-gotten gains” for the fiscal year ended at the end of September. And this, within the framework of 697 procedures. Accused of deception with investors by the SEC (Securities Exchange Commission), Nikola, the manufacturer of zero-emission trucks, agreed at the end of December to pay $ 125 million. Earlier in the month, JP Morgan bank had to pay $ 200 million in penalties for not keeping track of business communications between employees on their personal equipment.
To sanction financial delinquents, the SEC benefits from a formidably effective tool: its program for whistleblowers. Since 2012, following the Dodd-Franck Act, it has encouraged witnesses or holders of information on possible embezzlement to denounce the culprits to the authorities. When a whistleblower’s investigation leads to a penalty exceeding $ 1 million, the whistleblower may receive between 10% and 30% of that amount. In the United States, whistleblowers are the heroes of modern times.