“All three whistleblowers provided valuable information and assistance, which played a critical role in the SEC bringing an enforcement action and returning millions of dollars to harmed investors.”
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The Securities and Exchange Commission said the total amount of payouts under its whistleblower program had topped $1.35 billion after the agency awarded $20 million to a tipster for flagging wrongdoing.
The Securities and Exchange Commission has awarded a whistleblower with $20 million for providing new and critical information that led to the success of an enforcement action.
The program is 10 years-old and has arguably played a critical role in the Division of Enforcement’s ability to effectively detect wrongdoing, protect investors and the marketplace, and bring violators to justice.
As the U.S. Securities and Exchange Commission celebrated the National Whistleblower Day, Director of Enforcement Gurbir S. Grewal gave a speech praising the program and the people that come forward and are awarded for their tips and evidence.
The Securities and Exchange Commission on Friday said the total amount of payouts under its whistleblower program had topped $1.3 billion after the agency awarded $6 million to two tipsters for flagging wrongdoing.
The US Commodity Futures Trading Commission awarded $10 million to a whistleblower whose “original information” led the CFTC to open an investigation.
The US Securities and Exchange Commission awarded $4 million to several whistleblowers whose information resulted in enforcement actions.
The permanent bars imposed in these matters apply to any pending award application from the individuals at any stage of the review process, as well as to any future award application from the individuals.
The Securities and Exchange Commission on Friday said the total amount of payouts under its whistleblower program had topped $1.1 billion after the agency awarded $36 million to a tipster for flagging wrongdoing.
The SEC protects the confidentiality of whistleblowers and does not disclose any information that could reveal a whistleblower’s identity.
The SEC Whistleblower Program has allowed the SEC to recoup nearly $3 billion in monetary sanctions and the whistleblower program has awarded approximately $942 million to 186 individuals.
The SEC has awarded more than $900 million over the life of the program, including almost $85 million to nine individuals in this month alone, the latest being $28 million to one whistleblower.
“Today’s award is the second-largest in the history of the program, reflecting the tremendous contribution of these joint whistleblowers to our ability to recover funds for harmed investors. The SEC has now awarded over a quarter of a billion dollars to whistleblowers in the first seven months of this fiscal year alone, demonstrating the tremendous value of whistleblowers to our enforcement program”, said Jane Norberg, Chief of the SEC’s Office of the Whistleblower.
While “crime never pays” is far from being true, “no one likes a tattletale” has completely lost its meaning in the United States. The SEC likes tattletales and it has never been more rewarding to expose criminals.
While “crime never pays” is far from being absolute truth, “no one likes a tattletale” has completely lost its meaning in the United States.
The regulator has also clarified it will not provide immunity from any administrative or compensation actions. In the meantime, the US SEC announced it has awarded a total of $741 million to 136 whistleblowers since 2012.
While “crime never pays” is far from being absolute truth, “no one likes a tattletale” has completely lost its meaning in the United States. The SEC likes tattletales and it has never been more rewarding to expose criminals.
The new regime will maintain confidentiality of whistleblowers and will prevent them from suffering or being threatened with detriment.
