SEC Continues to Encourage Whistleblowers by Paying Incentives
Recently the Securities and Exchange Commission paid whistleblowers nearly $4.5 million in less than a week. The awards were paid to whistleblowers who provided information that resulted in enforcement actions.
The first whistleblower award, announced December 5, was $3.5 million and given to an individual who provided valuable tips that assisted the SEC in bringing a successful case for violations of the securities laws.
On December 9, the SEC announced that a whistleblower received an award of nearly $1 million for tips that enabled the Agency to bring multiple enforcement actions against wrongdoers.
“With the issuance of this second award in less than one week, we hope to continue to encourage individuals to submit high-quality tips that we can leverage to enforce the law and protect investors, and they can receive significant financial rewards for their valuable contributions to a case,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower.
More than $136 million has been awarded to 37 whistleblowers who voluntarily provided the SEC with original and useful information that led to a successful enforcement action.
