SEC Awards Whistleblower with over $1.1 Million

​The US Securities and Exchange Commission (SEC) announced that it has awarded a whistleblower with more than $1.1 million for independent analysis, which led the staff to look at new conduct during an ongoing investigation.

The whistleblower provided information and exemplary assistance to help the agency bring an emergency action preventing further investor harm.

Further, the whistleblower examined publicly available materials and conducted an analysis that revealed important new insights into the securities law violations, which helped the SEC protect investor assets from dissipation by the wrongdoer.

Jane Norberg, Chief of the SEC's Office of the Whistleblower said:”Today’s award reflects the Commission's commitment to award whistleblowers who provide high-quality independent analysis. Whistleblowers who devote time and effort to develop unique insights may afford the Commission important information about possible securities laws violations.”

So far, the SEC has awarded more than $720 million to 113 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.

The recent rewards come as the regulator tries to recover from a dip in whistleblower performance throughout the previous year.