Corporate Whistleblowers: Canadians, Chinese, & Brits, In SEC Whistleblower Program Report
International Business Times
November 18, 2013
Jordan A. Thomas highlights key findings listed in the SEC's annual report of their Whistleblower Program
Tips from international sources grew more than 18 percent from the last fiscal year, said whistle-blower specialist and attorney Jordan Thomas to International Business Times.
"Given the global nature of the financial market, it's not surprising that the SEC is seeing tips from outside the U.S.," said Thomas to IBTimes on Monday. In fiscal 2013, people from 55 countries submitted tips.
"However, the percentage of tips is telling," he said, underscoring that about 13 percent of the 3,238 tips received in total came from overseas sources.
In the U.S., California beat New York as the state submitting the most tips in the past year, at 375 vs. 215. Florida and Texas placed next.
Since the U.K. and Canada are English-speaking countries with markets "closely integrated" with the U.S. market, their prominence is unsurprising, said Thomas.
"Many of the companies that are in the U.K. and Canada are also listed on the U.S. exchanges," he told IBTimes. "There would be greater awareness of the program in the U.K. and Canada. Almost any possible violations in those countries would most likely result in a violation of U.S. securities laws."