SEC Awards Approximately $3 Million to Two Whistleblowers
The SEC awarded approximately $3 million to two whistleblowers who provided critical information and assistance in a successful enforcement action
The SEC awarded approximately $3 million to two whistleblowers who provided critical information and assistance in a successful enforcement action. The whistleblowers helped uncover misappropriated funds and fraudulent transfers, contributing significantly to the case. The award comes from an investor protection fund financed by sanctions paid to the SEC, with no funds taken from harmed investors. Whistleblowers can receive 10 to 30 percent of collected sanctions exceeding $1 million, and their identities remain confidential under the Dodd-Frank Act.
The SEC awarded approximately $3 million to two whistleblowers who provided critical information and assistance in a successful enforcement action. The whistleblowers helped uncover misappropriated funds and fraudulent transfers, contributing significantly to the case. The award comes from an investor protection fund financed by sanctions paid to the SEC, with no funds taken from harmed investors. Whistleblowers can receive 10 to 30 percent of collected sanctions exceeding $1 million, and their identities remain confidential under the Dodd-Frank Act. The Securities and Exchange Commission (SEC) awarded approximately $3 million to two whistleblowers who provided critical information and assistance leading to a successful enforcement action. The whistleblowers independently contributed by participating in interviews and providing documents, helping the SEC uncover misappropriated funds and build its case. The awards are funded by an investor protection fund, with no money taken from harmed investors. Whistleblowers may receive 10 to 30 percent of collected sanctions if they provide original, timely, and credible information leading to successful enforcement actions. Since 2012, the SEC has awarded approximately $932 million to 172 individuals.
Exhibits & Attached Documents (1)
Extracted insights
- $932.00M $932 million $100M–$1B
- $3.00M $3 million $1M–$10M
- $1.00M $1 million $1M–$10M
- person first whistleblower
- agency information and assistance that led to successful sec enforcement action
- person second whistleblower
- agency sec to protect confidentiality of whistleblowers
- agency Securities and Exchange Commission
- person whistleblower awards
- SEC announced aggregate award of approximately $3 million to two whistleblowers
- Two Whistleblowers provided information and assistance that led to successful SEC enforcement action
- First Whistleblower provided information early in investigation and helped develop case
- Second Whistleblower helped uncover misappropriated funds and fraudulent transfers
- SEC awarded approximately $932 million to 172 individuals since 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 percent to 30 percent of money collected when sanctions exceed $1 million
The Securities and Exchange Commission today announced an aggregate award of approximately $3 million to two whistleblowers whose information and assistance led to a successful SEC enforcement action. The whistleblowers separately and independently provided SEC staff with valuable information and ongoing assistance, which included participating in multiple interviews with the staff and providing helpful documents. “Today’s whistleblowers played an instrumental role in helping the SEC bring this important action,” said Emily Pasquinelli, Acting Chief of the SEC’s Office of the Whistleblower. “The first whistleblower provided information early in the investigation and helped SEC staff develop its case and focus its resources, while the second whistleblower helped staff uncover misappropriated funds and fraudulent transfers.” The SEC has awarded approximately $932 million to 172 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 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.
The Securities and Exchange Commission today announced an aggregate award of approximately $3 million to two whistleblowers whose information and assistance led to a successful SEC enforcement action. The whistleblowers separately and independently provided SEC staff with valuable information and ongoing assistance, which included participating in multiple interviews with the staff and providing helpful documents. “Today’s whistleblowers played an instrumental role in helping the SEC bring this important action,” said Emily Pasquinelli, Acting Chief of the SEC’s Office of the Whistleblower. “The first whistleblower provided information early in the investigation and helped SEC staff develop its case and focus its resources, while the second whistleblower helped staff uncover misappropriated funds and fraudulent transfers.” The SEC has awarded approximately $932 million to 172 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 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.