Securities Arbitration Lawyers BlogSEC Awards Two More Whistleblowers A Total of $54M
The Securities and Exchange Commission recently announced that the agency has awarded two more individuals funds totaling $54 million under the SEC’s Whistleblower Program.
The first individual was awarded $39 million, and the second was awarded $15 million. Both offered information and assistance that resulted in enforcement actions. The $39 million award is the second largest award in the program’s history.
After voluntarily providing the SEC with “original, timely, and credible information that leads to a successful enforcement action,” individuals may be eligible for monetary awards. For sanctions exceeding $1 million, whistleblowers may be awarded as much as 10% to 30%. Whistleblowers are a great help to an investigation, and can supply valuable information that might not otherwise be available.