SEC awards 5 million dollar to whistleblower

Impressive! Five Million Dollars For An U.S. Whistleblower!

The U.S. Securities and Exchange Commission (SEC) announced an award of more than $5 million to a whistleblower whose information led to a successful SEC enforcement action.  The whistleblower provided a tip and additional information that helped SEC staff shape its investigative strategy, identify witnesses, and draft documents and information requests. The whistleblower also internally reported concerns before submitting information to the SEC

­Th­­­­­­­­­e whistleblower in this case provided helpful information and substantial ongoing assistance, saving the SEC time and resources during its investigation.

Creola Kelly, Chief of the SEC’s Office of the Whistleblower

Payments to whistleblowers are made from an investor protection fund established by U.S. Congress, financed entirely through monetary sanctions paid to the SEC by securities law violators. 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 to 30 percent of the money collected when the monetary sanctions exceed $1 million. 

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