SEC Issues Whistleblower Awards Totaling More Than $4 Million
summary
The SEC awarded over $4 million to four whistleblowers for providing critical information that led to two separate enforcement proceedings regarding securities law violations.
paragraph
The SEC announced awards totaling more than $4 million to four individuals across two separate enforcement orders. Specific awards included over $2 million for initiating an investigation, $1.1 million for reporting internal misconduct, over $500,000, and more than $150,000. These payments were distributed from an investor protection fund financed by monetary sanctions from securities law violators.
narrative
The Securities and Exchange Commission has awarded more than $4 million to four whistleblowers who assisted in two separate enforcement proceedings. In the first order, one whistleblower received over $2 million for providing information that initiated an investigation, while another received more than $150,000 for helping expand the inquiry. The second order included an award of more than $1.1 million to a whistleblower who first alerted the SEC to internal misconduct, along with an award exceeding $500,000 to another individual. These awards highlight the vital role whistleblowers play in detecting and halting securities law violations. All payments are sourced from a Congressional investor protection fund financed by sanctions paid by violators, ensuring no money is taken from harmed investors. Since 2012, the SEC has awarded approximately $946 million to 190 individuals through this program.
Classified corporate-fraud(confidence 90%). EDGAR detection: forms 10-K/10-Q/8-K· recall 56% / precision 8%. detection rule →
Parties
acting chief of sec's office of the whistlebloweremily pasquinellisec staff initiating an investigationsec staff to expand investigationsec to protect confidentiality of whistleblowerssec to violationsSecurities and Exchange Commissionwhistleblower awards
Keywords
secwhistleblowerinformationmillionwhistleblower awardsawardsawarded millionwhistleblowersawardedissues whistleblowerawards totalingtotaling millionmillion whistleblowerawarded anotheranother whistleblower
Exhibits & Attached Documents (2)
Extracted insights
Dollar amounts 7
- $946.00M $946 million $100M–$1B
- $4.00M $4 million $1M–$10M
- $2.00M $2 million $1M–$10M
- $1.10M $1.1 million $1M–$10M
- $1.00M $1 million $1M–$10M
- $500K $500,000 $100K–$1M
- $150K $150,000 $100K–$1M
Entities 8
- agency acting chief of sec's office of the whistleblower
- person emily pasquinelli
- agency sec staff initiating an investigation
- agency sec staff to expand investigation
- agency sec to protect confidentiality of whistleblowers
- agency sec to violations
- agency Securities and Exchange Commission
- person whistleblower awards
Triples 14
- SEC awarded more than $4 million to four whistleblowers
- SEC awarded more than $2 million to a whistleblower
- Whistleblower provided information resulting in SEC staff initiating an investigation
- SEC awarded more than $150,000 to another whistleblower
- Whistleblower prompted SEC staff to expand investigation
- SEC awarded more than $1.1 million to a whistleblower
- Whistleblower reported misconduct and alerted SEC to violations
- SEC awarded more than $500,000 to another whistleblower
- Emily Pasquinelli is Acting Chief of SEC's Office of the Whistleblower
- SEC awarded approximately $946 million to 190 individuals since 2012
- SEC issued first whistleblower award in 2012
- Congress established investor protection fund financed by monetary sanctions
- Dodd-Frank Act requires SEC to protect confidentiality of whistleblowers
- Whistleblower awards range from 10-30% of money collected when sanctions exceed $1 million
PDF (from attached: pdf)
Text layers
Extracted body text (2,363c)
The Securities and Exchange Commission today announced awards of more than $4 million to four whistleblowers who provided information and assistance in two separate enforcement proceedings. In the first order, the SEC awarded more than $2 million to a whistleblower who provided valuable information that resulted in SEC staff initiating an investigation, as well as ongoing assistance that included participating in multiple interviews and identifying key individuals and entities. The SEC also awarded more than $150,000 to another whistleblower, whose information prompted SEC staff to expand its investigation into other alleged conduct at the relevant company. In the second order, the SEC awarded more than $1.1 million to a whistleblower who reported misconduct internally and was the first to alert the SEC to the violations. The SEC also awarded another whistleblower more than $500,000. While the second whistleblower’s information was important, the first whistleblower's information was more significant as it was broader and more timely submitted. "Today's awards underscore the important role that whistleblowers play in detecting and halting securities laws violations," said Emily Pasquinelli, Acting Chief of the SEC's Office of the Whistleblower. "Each of the whistleblowers provided high-quality information that made an important contribution to the success of the underlying enforcement action." The SEC has awarded approximately $946 million to 190 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 10-30% 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 any 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.
OCR text (2,363c · html-text · 99% conf)
The Securities and Exchange Commission today announced awards of more than $4 million to four whistleblowers who provided information and assistance in two separate enforcement proceedings. In the first order, the SEC awarded more than $2 million to a whistleblower who provided valuable information that resulted in SEC staff initiating an investigation, as well as ongoing assistance that included participating in multiple interviews and identifying key individuals and entities. The SEC also awarded more than $150,000 to another whistleblower, whose information prompted SEC staff to expand its investigation into other alleged conduct at the relevant company. In the second order, the SEC awarded more than $1.1 million to a whistleblower who reported misconduct internally and was the first to alert the SEC to the violations. The SEC also awarded another whistleblower more than $500,000. While the second whistleblower’s information was important, the first whistleblower's information was more significant as it was broader and more timely submitted. "Today's awards underscore the important role that whistleblowers play in detecting and halting securities laws violations," said Emily Pasquinelli, Acting Chief of the SEC's Office of the Whistleblower. "Each of the whistleblowers provided high-quality information that made an important contribution to the success of the underlying enforcement action." The SEC has awarded approximately $946 million to 190 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 10-30% 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 any 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.