Overall, the US Securities and Exchange Commission (SEC), received more than 400 whistle blower tip-offs from various countries during the financial year 2013 (October-September).
The UK is followed by Canada at the second place with 62 whistle blower tip-offs on instances of possible wrongdoings, China (52), Russia (20), India and Ireland (18 each) and Australia (15). The annual report is prepared by the staff of SEC as part of the US government whistle blower program. The program allows individuals to provide information on possible violations of securities regulation, without revealing their identity. The regulator received 557 tip-offs related to corporate disclosures and financial reports, 553 on fraud, 525 information on manipulation and 196 concerning to insider trading, it said. “Since the beginning of the whistle blower program, the Commission has received whistle blower tips from individuals in 68 countries outside the US. In fiscal year 2013 alone, the Commission received whistle blower submissions from individuals in 55 foreign countries,” the report said.