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Financial Services Law Insights and Observations

SEC awards $6 million to whistleblowers

Securities SEC Whistleblower Enforcement

Securities

On April 25, the SEC announced awards totaling nearly $6 million to two groups of whistleblowers whose information and assistance led to a successful SEC enforcement action. According to the redacted order, the first group of whistleblowers provided the SEC with key documents that led the staff to seek additional documents from the respondent, and the second group provided firsthand accounts of the misconduct at issue. Both groups, which consisted of five individuals, provided ongoing assistance throughout the investigation.

The SEC has awarded approximately $1.2 billion to 268 individuals since issuing its first award in 2012.

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