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Outten & Golden Analyzes SEC Whistleblower Program Results for FY 2025: Whistleblowers Continue to Level the Playing Field for Investors and Promote Market Integrity

On Feb. 12, 2026, the SEC released its Annual Report to Congress on the Dodd-Frank Whistleblower Program, awarding more than $60 million to 48 individuals.
Because of a 27% headcount reduction, the SEC slowed enforcement activity while reorganizing field offices and enforcement units, as the report noted.
The SEC received approximately 27,000 tips last fiscal year, roughly 8% more than the prior year, alleging manipulation and offering fraud , with nearly $1 million in the fund from sanctions.
The SEC also took steps to protect whistleblowers, ensuring reporting employees cannot face retaliation and two investment advisers paid $90 million over unlawful separation agreements.
The SEC's financial filings show probable contingent liabilities between $218 million and $655 million for FY 2025, with 82 Preliminary Determinations indicating active FY 2026 awards and more than $2 billion awarded historically.

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Outten & Golden Analyzes SEC Whistleblower Program Results for FY 2025: Whistleblowers Continue to Level the Playing Field for Investors and Promote Market Integrity

NEW YORK, Feb. 12, 2026 /PRNewswire/ -- The Securities and Exchange Commission (SEC) today released its Annual Report to Congress on the Dodd-Frank Whistleblower Program for Fiscal Year 2025, which detailed the millions of dollars awarded to more than two…

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