InfoBytes Blog
SEC issues $40 million in whistleblower awards
On January 20, the SEC announced whistleblower awards totaling over $40 million to four individuals for providing information and assistance in three separate covered actions. According to the first redacted order, the SEC awarded approximately $37 million to two joint whistleblowers for providing evidence and ongoing assistance throughout the investigation, in addition to helping Commission staff identify information that contributed to the success of the action. According to the second redacted order, the SEC awarded approximately $1.8 million to an individual who provided information that prompted Commission staff to open the investigation. Additionally, the whistleblower continued to provide assistance by participating in interviews and giving additional documents. In the third redacted order, the SEC awarded approximately $1.5 million to a whistleblower for providing new information for Commission staff’s investigative strategy and significantly contributing to the success of the action. In addition, the whistleblower provided substantial and ongoing assistance by helping the Commission staff identify issues.
The SEC has awarded approximately $1.2 billion to 245 individuals since issuing its first award in 2012.