I blogged earlier this year that the SEC is getting stricter about whistleblower awards. The folks at “Whistleblower Network News” have now tallied the dollar amounts from the orders posted by the SEC – this article discusses what they found:

Aside from 122 denials and six orders omitting award amounts, award orders for fiscal year (FY) 2025 total $59.7 million. This figure averages to around $2 million per award.

The 2025 report stands in stark contrast to (FY) 2024 and (FY) 2023, which had totals of $255 million and $600 million, respectively. The SEC’s whistleblower program has not seen such a low level of awards since 2017 under the Obama administration.

Of course, the SEC hasn’t been able to post orders recently in light of the government shutdown. But the Operations Plan says they’re still accepting tips:

The Division of Enforcement will have only a limited number of staff on duty to perform excepted functions. However, staff will attempt to respond to certain critical matters, including allegations of ongoing fraud and misconduct. The Tips, Complaints, and Referrals website will continue to be operational, and submissions will be reviewed for appropriate action.

So, even though the focus and magnitude of awards might be changing right now, the program is still in effect.

– Liz Dunshee