In order to encourage internal supervision among civil servants, enterprises and other organizations, every internal staff member can stand up through whistle-blowing, litigation and other means in the interest of the public.

What we call "whistleblowers" in the legal sense means that in order to encourage internal supervision among civil servants, enterprises and other organizations, that is, every internal staff member can stand up and report, Litigation and other means are used to maintain social justice, and whistleblowers are protected by law. It originally came from the Whistleblower Protection Act in the United States, which aims to protect whistleblowers and encourage citizens to participate in social justice supervision.

Fighting Financial Crime

The outbreak of the financial crisis made US regulators aware of the need to tighten controls on the financial securities industry. In July 2010, the US Congress passed the " Dodd-Frank Act ". This bill amends many aspects of the U.S. Securities Exchange Act of 1934, one of which is the inclusion of the "Securities Whistleblower Incentive and Protection" program. Calling on all walks of life to "blow the whistle" for the capital market has opened up a new situation for internal reporting of violations of laws and regulations.

In August 2011, US Securities and Exchange Commission officially launched the "Whistleblower" reward and protection project. The first reward was issued in August 2012, and it has been eight years since then. In 2018, the SEC bonuses received by "whistleblowers" in a single year set a new record, reaching US$168 million.

Financial Guard

In 2014, a "whistleblower" won more than $30 million in bonuses from the U.S. Securities and Exchange Commission, setting a record at the time. "The information provided by this 'whistleblower' exposed an ongoing fraud. Without this tip, it would be difficult to detect it." Andrew, the former head of the SEC's Enforcement Division, said.

Protecting financial investors

Interestingly, this "whistleblower" is not in the United States. In fact, it was common practice at the time for the U.S. Securities and Exchange Commission to receive foreign tips. Data obtained by " China Times " reporters from the official website of the U.S. Securities and Exchange Commission shows that in fiscal year 2014 alone (from October 1, 2013 to September 30, 2014), there were "... Whistleblowers” ​​provided hundreds of tips to the SEC.

Among them, the United Kingdom and India ranked first and second with 70 and 69 respectively, Canada ranked third with 58, and mainland China ranked fourth with 32.

Combating counterfeiting

With the development of my country's capital market and the current strict law enforcement in my country's securities market, the evidence collection process for insider information trading cases, false statement cases, etc. is very difficult and long. Most of the time, the investigation agencies are unable to grasp sufficient evidence in time, and ultimately Let criminal suspects escape punishment. It can be seen that establishing a "whistleblower" system from a legal perspective can more effectively curb criminal behavior in the capital market.

Key points: Bonuses can be astronomical.

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U.S. Department of Justice: It is only fair to bring those who have flesh and blood to justice