Aggregated News From Investment Management Regulators

SEC Awards Almost $2 Million to Whistleblower

Report/Flag

Please complete the required fields.



The Securities and Exchange Commission today announced an award of nearly $2 million to a whistleblower whose information and assistance helped the agency bring a successful enforcement action and allowed investors to recover much of their money.   

“The whistleblower’s information and assistance helped the SEC stop an ongoing fraud in its tracks,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower.  “The whistleblower’s tip had a substantial impact on the investigation, and aided the Commission’s ability to obtain an asset freeze and prevent the dissipation of investor funds.”

The SEC has awarded approximately $450 million to 82 individuals since issuing its first award in 2012.  All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators.  No money has been taken or withheld from harmed investors to pay whistleblower awards.  Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action.  Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.

As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose information that could reveal a whistleblower’s identity.

For more information about the whistleblower program and how to report a tip, visit www.sec.gov/whistleblower.

Regulator Information

Abbreviation: SEC
Jurisdiction: United States

Recent Articles

SEC Charges Two Canadian Software Engineers with Insider Trading

Washington D.C., Sept. 30, 2022 — The Securities and Exchange Commission today announced insider trading charges against two Canadian software engineers who made $1.

AMF Chair: Proposal to appoint Marie-Anne Barbat-Layani

Yesterday, the President of the Republic put forward the name of Marie-Anne Barbat-Layani to chair the AMF.

Get the latest from Regulatory.News in your inbox!

×