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Cash for tip-offs puts UK on top of U.S. SEC whistleblower list

Nov 26 2012 Reuters

More than one in ten tip-offs about corporate wrongdoing received by the U.S. Securities and Exchange Commission (SEC) came from overseas, with British whistleblowers topping the list, said a global investigations firm on Thursday. Nearly one in four of the 324 overseas tip-offs came from Britain with Canada second and India third, according to Kroll's analysis of the annual report from the U.S. body responsible for regulating the securities market. Under new U.S. regulation introduced in 2010, the SEC starting paying whistleblowers, both at home and abroad, for coming forward with information that results in successful prosecutions. "The bounties offered to whistleblowers by the SEC are likely to have huge repercussions for companies, particularly international ones, as they mean whistleblowers based anywhere in the world are more likely to go to the regulator rather than their company," said Kroll Managing Director, Benedict Hamilton. Britain's 74 tip-offs

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