SEC Whistleblower Reward Program

January 14, 2021

The SEC has awarded nearly $600,000 to an anonymous whistleblower whose information and substantial assistance resulted in critical investigative leads in an open investigation, ultimately leading to a successful enforcement action.  SEC

ITG - Securities Fraud violations (Multi-Millions)

Constantine Cannon represented a whistleblower in a submission under the SEC Whistleblower Program relating to brokerage firm ITG's alleged violations of the firm’s dark pool, POSIT.  In May 2021, the SEC awarded our client 30% of the government's recovery, the maximum amount allowed under the program.  Read more -- CC

January 7, 2021

The SEC has awarded five whistleblowers more than $1.1 million for providing information that led to three successful enforcement actions.  The first order credited three whistleblowers with information and assistance that led to two related enforcement actions; the three were awarded nearly $500,000.  The second order awarded nearly $600,000 to an individual who reported concerns internally before providing extensive assistance to SEC investigators.  The third order awarded over $100,000 to an individual who provided independent analysis of publicly available documents; this is the fifth such whistleblower this fiscal year who has granted an award.  SEC

December 22, 2020

A whistleblower will receive a $1.6 million award, with the SEC finding that the individual provided ongoing assistance during the investigation despite having personal safety concerns, and that assistance included original information about the involvement of certain defendants in the reported scheme.  SEC

December 18, 2020

The SEC awarded $1.8 million to a whistleblower who timely provided significant information about a fraudulent securities scheme that was otherwise hard to detect, and provided substantial assistance during the SEC investigation, which resulted in the return of millions of dollars to harmed investors.  SEC

December 18, 2020

The SEC awarded $1.2 million to a whistleblower, noting that the whistleblower award amount was negatively affected by the individual’s culpability in the underlying fraud and unreasonable delay in reporting to the SEC even as the claimant was fully aware of the scheme’s illegality.  SEC