SEC issues whistleblower awards totaling over $1.7 million

The Securities and Exchange Commission (SEC) announced awards totaling more than $1.7 million to two whistleblowers in separate proceedings.  

In the first order, the SEC awarded over $900,000 to a whistleblower who provided significant evidence, including a critical declaration, that helped expedite an ongoing investigation and enabled the SEC to shut down an ongoing fraudulent scheme preying on retail investors.

In the second order, the SEC awarded over $800,000 to a whistleblower who provided important evidence of false and misleading statements made to investors, resulting in the return of millions to harmed investors. 

"These whistleblowers earned their awards by providing high quality information that supported a pair of successful Commission enforcement actions," said Jane Norberg, Chief of the SEC's Office of the Whistleblower. 

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.