SEC AWARDS OVER $1 MILLION TO WHISTLEBLOWER
November 8, 2017 |
In October 2017, the U.S. Securities and Exchange Commission (SEC) announced that, in return for voluntarily providing original, timely, and credible information and corroborating documentation that led to the successful enforcement of federal securities laws, a whistleblower was awarded more than $1 million. The information provided by the whistleblower — whose name and other identifying information are kept confidential — substantially assisted the SEC in prosecuting a securities law violation by a registered entity that impacted retail customers.
Under the SEC’s Whistleblower Program, whistleblowers have been awarded more than $162 million for the information and assistance they have provided that led to successful SEC enforcement actions. Whistleblower awards can range from 10 to 30 percent of the money collected when the monetary sanctions entered in a particular enforcement action exceed $1 million. No money is taken or withheld from harmed investors to pay whistleblower awards.
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See the SEC’s Order:
SEC Order Determining Whistleblower Award Claim
