SEC announces $37 million whistleblower award, third-largest in program history

SEC Whistleblower

The SEC announced this week that it had awarded a whistleblower $37 million for providing “smoking gun” evidence that led to a successful enforcement action; the substance of the underlying case was not described. This was the third largest whistleblower award given since the SEC’s first award in 2012. A second whistleblower received $13 million. The largest whistleblower award remains the one granted in March 2018, $50 million awarded to two banking employees.

The SEC’s whistleblower award order from March 26, 2019 can be seen here.