Washington, D.C.–(Newsfile Corp. – April 8, 2021) – The Securities and Exchange Commission today announced that Jane Norberg, Chief of the SEC’s Office of the Whistleblower, is planning to leave the agency this month.
Ms. Norberg has been with the Office since near its inception in 2012, serving as its first Deputy Chief and, since 2016, its Chief. During her time as Chief, Ms. Norberg streamlined the awards review and adjudication process, managed an expansion of the Office’s staff, and oversaw a dramatic growth in the number of awards issued to whistleblowers under the program, in part by leveraging the work of staff across the to complement that of the Office’s dedicated staff. Ms. Norberg also played an active role in Division-wide efforts related to diversity and inclusion.
“Throughout her time in the Office of the Whistleblower, Jane has demonstrated unwavering dedication to our whistleblower program,” said SEC Acting Chair Allison Herren Lee. “As head of that office, Jane’s commitment, talent, and laser focus on the interests of whistleblowers made her an invaluable member of our team. Though she will be sorely missed, she leaves as her legacy a program that has seen year after year of record setting numbers of awards and levels of payouts. For that, we are deeply grateful.”
Melissa Hodgman, Acting Chair of the Division of Enforcement, added, “Jane’s contributions to the whistleblower program are numerous and meaningful. Under her leadership, the program has enhanced investor protection and championed whistleblowers. The program has outpaced itself year after year during Jane’s tenure, and resulted in significant benefits to the overall enforcement program. We will miss her.”
“It has been a privilege to work side by side with the extraordinary and dedicated professionals at the Commission,” said Jane Norberg. “In particular, the Office of the Whistleblower team is a powerhouse of talent and resolve. Their dedication to the mission of the Office is evident in the record-breaking numbers of awards the team has produced even under the burdens of the current pandemic. Being part of such a pivotal program has been an extraordinary honor.”
During Ms. Norberg’s tenure as Chief of the Office:
- The SEC’s whistleblower program issued awards totaling nearly $650 million to more than 110 individual whistleblowers. These include nine of the ten largest awards in the program’s history.
- She implemented game-changing efficiencies in the program that resulted in a record-breaking year during Fiscal Year 2020, in which the number of awards issued to whistleblowers was tripled and the Commission received a record number of whistleblower tips.
- In the first six months of Fiscal Year 2021, $200 million has been awarded to 40 individuals under the program, already surpassing the record set in FY20.
- The information and assistance provided by these whistleblowers has enabled the Commission to bring successful enforcement actions that resulted in orders for more than $3.1 billion in sanctions, including more than $1.8 billion in disgorgement of ill-gotten gains and interest, of which over $760 million has been, or is scheduled to be, returned to harmed investors.
- The Commission brought eight enforcement actions for violations of the provision that prohibits a company or individual from impeding someone’s efforts to report information to the commission, as well as three cases for retaliating against whistleblowers.
Prior to joining the SEC, Ms. Norberg was an attorney in private practice, including at Shearman & Sterling, LLP. She also previously served as a special agent for the U.S. Secret Service, where her duties included providing protection to the President, Vice President, and visiting foreign dignitaries as well as conducting criminal investigations into federal crimes.
The Whistleblower Office’s Deputy Chief, Emily Pasquinelli, will serve as Acting Chief following Ms. Norberg’s departure.