SEC Whistleblower Reward Program
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January 19, 2023
The SEC has awarded approximately $18 million to a trio of whistleblowers whose information contributed to a successful enforcement action. The first whistleblower’s detailed and significant information also led the agency to open an investigation and saved considerable staff time and resources. SECTop Ten FCPA Recoveries of 2022
Posted 01/13/23
January 13, 2023
The SEC has awarded more than $5 million to a whistleblower who first reported internally, and whose subsequent tip to the agency helped shape its investigation. Based on the whistleblower’s information, agency staff were able to identify witnesses and effectively draft document and information requests. SECDecember 19, 2022
A company outsider who submitted multiple anonymous tips to the SEC and the target company, which initiated an internal investigation based on the information, received a whistleblower award of $37 million. The company reported the whistleblower’s information to the Commission, which then opened its own investigation. Claimant submitted an additional tip to the Commission within 120 days that included the email that Claimant had sent to the company. Claimant’s award was based on amounts recovered by the Commission and amounts recovered in a related action. SECDecember 12, 2022
The SEC approved a whistleblower award of $20 million to an anonymous individual who voluntarily provided original information to the Commission that significantly contributed to an investigation that had been previously opened based on a referral from the Division of Examinations. While noting that much of the information provided by the whistleblower was already known to Enforcement staff, the individual provided some helpful new information, met with Enforcement Division staff multiple times, and remained cooperative throughout the investigation. SECSEC Whistleblower Program 2022 Annual Report Shows Continued Strength of Program
Posted 11/28/22
