$4 Million Whistleblower Award Issue by SEC
Today the Securities and Exchange Commission announced an award of more than $4 million paid to a whistleblower. The whistleblower voluntarily provided original information to the Commission that led to a successful enforcement action. “Our program continues to incentivize whistleblowers to come forward with solid information that helps us bring violators to justice before more wrongdoing can occur,” said Jane Norberg, Acting Chief of the SEC’s Office of the Whistleblower.
The SEC’s whistleblower program has awarded more than $111 million to 34 whistleblowers since its inception in 2011.
By law, the SEC protects the confidentiality of whistleblowers and does not disclose information that might directly or indirectly reveal a whistleblower’s identity.
Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.
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