It’s not easy being a whistleblower. Huge sums have been set aside to reward those who report wrongdoing in the financial markets—$739 million is waiting to be paid out—but awards have barely dented those accounts.
According to a newly released report by Davis Polk & Wardwell, less than $16 million of that sum has been paid by the Securities and Exchange Commission and the Commodities Futures Trading Commission. And whistleblowers alleging retaliation may not be faring well either. The report notes that the “vast majority” of retaliation claims filed under Sarbanes-Oxley are dismissed or withdrawn.
