September 30, 2020

The SEC has announced that it has concluded a record-breaking fiscal year for its whistleblower program by awarding four whistleblowers a total of $5 million.  For providing critical information and evidence of hard-to-detect violations, and providing extensive and ongoing assistance to the investigation, two whistleblowers were awarded $2.9 million and $1.7 million respectively.  The remaining two whistleblowers were awarded nearly $400,000 for jointly providing a tip and additional assistance, including meeting with staff to help decipher key documents and identify key witnesses.  These awards cap the program’s record of 39 individual awards, totaling about $175 million, that have been granted in a single fiscal year.  Since the whistleblower program launched in 2012, the SEC has made awards to 106 individuals totaling about $562 million.  SEC

Tagged in: Anonymity, Financial and Investment Fraud, SEC Whistleblower Reward Program, Whistleblower Rewards,