SEC Rewards Whistleblowers Nearly $6 Million

The US Securities and Exchange Commission (SEC) announced that it has awarded nearly $6 million to another two whistleblowers for providing high-quality information and and assistance in separate enforcement proceedings.

As detailed in the regulator's announcement, one of the whistleblowers received more than $3.5 million for reporting valuable new information that caused the SEC to expand an existing investigation into a new geographic area. The whistleblower then provided supplemental information and assistance that helped the SEC bring the charges in the underlying enforcement action.

In the second order, the SEC awarded more than $2.4 million to a whistleblower who alerted the SEC to previously unknown conduct, prompting the opening of the investigation, and thereafter met with SEC staff, provided documents, and identified potential witnesses.

"With today's orders, the SEC has made whistleblower awards to 14 individuals in less than a month, reflecting the SEC's commitment to reward whistleblowers who provide new, critical information that leads to successful enforcement actions," said Emily Pasquinelli, Acting Chief of the SEC's Office of the Whistleblower.

The SEC has awarded approximately $956 million to 195 individuals since issuing its first award in 2012. Last week, the SEC announced an award of totaling over $3.5 million to three whistleblowers​ who provided information and assistance in separate enforcement proceedings.