Referral

A referral passes a suspected violation from one body to another — typically from an exchange or self-regulatory organisation to a government regulator. Most public enforcement begins as somebody else's alert.

compliance and practice · updated 2026-09-08

See also

• Whistleblower — A whistleblower reports suspected violations to a regulator. US programmes pay a percentage of sanctions above a threshold, and a …
• Self-regulatory organisation — A self-regulatory organisation is an industry body with delegated authority to write and enforce rules for its members, subject to…

Terms that refer here

Whistleblower

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