US Regulator SEC Awards Whistleblowers Over $1.1 Million

The Securities and Exchange Commission (SEC) recently announced that it has awarded $1.1 million to another five whistleblowers combined for providing high-quality information and helping the regulator in financial fraud investigations.

As detailed in the regulator's announcement, one of the five whistleblowers received nearly $600,000 for causing the opening of an investigation and providing helpful assistance and documents.

SEC awards another whistleblower whose independent analysis led to a successful enforcement action more than $100,000. It is the fifth time that SEC has awarded an individual based on independent analysis in FY21.

Further, another $500,000 was awarded to the other three whistleblowers in connection with two related enforcement actions, for providing information that prompted the opening of an investigation or contributed to the success of the actions.

Jane Norberg, Chief of the SEC's Office of the Whistleblower said:”These awards underscore the breadth of ways that company insiders, as well as whistleblowers not affiliated with a company, can positively impact SEC investigations.”

Since issuing its first award in 2012 to a whistleblower, the authority has granted around $737 million to 133 individuals.