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Financial Services Law Insights and Observations

SEC issues $3.8 million whistleblower award

Securities SEC Whistleblower Enforcement

Securities

On July 14, the SEC announced a $3.8 million award to a whistleblower in an enforcement action. According to the SEC’s press release, the whistleblower “provided significant information that helped the SEC disrupt an ongoing fraudulent scheme,” which resulted in “millions of dollars” being returned to harmed investors. The formal order also states that the information the whistleblower provided was “discrete and narrow in scope.”

As of June 14, the SEC has awarded 87 individuals a total of approximately $505 million in whistleblower awards since its first award in 2012.

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