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SEC names Norberg to deputy chief whistleblower position

The Securities and Exchange Commission announced on Tuesday that Jane A. Norberg has been appointed to deputy chief of the Office of the Whistleblower.

Norberg will oversee the SEC's whistleblower program established by the Dodd-Frank Act. The program was designed to provide reward incentives to individuals who volunteer information leading to SEC intervention and crackdown.

Norberg first spent time as a special agent in the U.S. Secret Service, working with confidential informants on federal investigations. A cum laude graduate of St. John's University School of Law, Norberg also worked in corporate law for 14 years at her private firm, as well as at Shearman & Sterling in New York.

“The whistleblower program is an important component of the SEC's efforts to stop those who prey on investors and destroy the public's trust," Norberg said. "I am honored and excited to join the Commission staff and look forward to helping the agency build on the success achieved in the short time since the program was established."

Between August and September, the whistleblower program received 334 tips, according to the 2011 annual report on the program. When these tips result in SEC monetary sanctions of more than $1 million, an award between 10 and 30 percent of the amount collected is given to the whistleblower.

Sean X. McKessy, the chief of the Office of the Whistleblower, expressed confidence in Norberg's ability to make a difference in the program.

“Jane has extensive experience in both the private and public sectors…” McKessy said. “With the experience she brings, [Norberg] will help us fulfill our mission of administering a vigorous whistleblower program [to] help the SEC identify and halt frauds early and quickly to minimize investor losses.”

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