SEC awards over $500,000 to two whistleblowers

The Securities and Exchange Commission (SEC) announced awards totaling more than $500,000 to two whistleblowers. Both whistleblowers offered substantial, ongoing assistance that conserved the agencies' time and resources. 

Jane Norberg, Chief of the SEC's Office of the Whistleblower, said: "This case demonstrates once again the value of the whistleblower program in helping to protect investors, and the Commission's continued commitment to rewarding individuals who provide high-quality tips. The timely reporting of credible information by these whistleblowers provided the Commission the opportunity to quickly investigate and address misconduct that was actively harming investors."

According to the official press release, the SEC has awarded approximately $752 million to 138 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.