SEC issues nearly $600,000 whistleblower award

Securities SEC Whistleblower Enforcement

On January 14, the SEC announced a whistleblower award of nearly $600,000 in connection with a successful enforcement action. According to the redacted order, the whistleblower provided new, highly valuable information during the course of the investigation, as well as substantial assistance, including meeting with enforcement staff numerous times and providing critical investigative leads. Additionally, the SEC notes that “there is a close nexus” between the whistleblower’s information and certain charges in the covered action.

The SEC has now paid approximately $738 million to 134 individuals since the inception of the program.