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Financial Services Law Insights and Observations

SEC awards $1.1 million to whistleblower

Securities SEC Whistleblower Enforcement

Securities

On November 13, the SEC announced a whistleblower award of over $1.1 million in connection with a successful enforcement action. According to the redacted order, the whistleblower provided information to the agency during an active investigation that led the SEC to inquire into different conduct. Additionally, the whistleblower “provided exemplary and continuing assistance” to the SEC, saving the agency time and resources. Lastly, the information and assistance was “critical” in order for the SEC to “bring an emergency action before assets could be dissipated.”

The SEC has now paid approximately $720 million to 113 individuals since the inception of the program.

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