Jane Norberg Talks Whistleblower Award Case with Law360

Jane Norberg, former Chief of the Office of the Whistleblower at the U.S. Securities and Exchange Commission (SEC) and a partner in Arnold & Porter’s Securities Enforcement & Litigation practice, was quoted in the recent Law360 article, “Justices’ Whistleblower Denial Has Some Attys Fearing a Chill,” analyzing the U.S. Supreme Court’s decision not to review an appeal regarding how bankruptcy impacts whistleblower award calculations.

Jane explained that the SEC can only pay its whistleblower awards through collections from its enforcements, and that, based on the Fifth Circuit’s ruling which will now stand, bankruptcy cases do not qualify as actions for which the SEC can pay an award.

She also highlighted that the specific circumstance in this case is limited, and it may not have a long-term chilling impact on the SEC’s whistleblower program.

“I don’t know how often there’s a bankruptcy proceeding where this very specific set of facts and circumstances would apply…” Jane said. “This is very unique.”

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