US SEC Rewards $114 Million to Two Whistleblowers

The US Securities and Exchange Commission (SEC) announced it has awarded $114 million to two whistleblowers for providing high-quality information and assistance in separate enforcement proceedings.

As detailed in the regulator's announcement, the first whistleblower received $110 million award for providing significant independent analysis that substantially advanced the SEC's and the other agency's investigations.

The whistleblower's $110 million award consists of an approximately $40 million award in connection with an SEC case and an approximately $70 million award arising out of related actions by another agency, standing as the second-highest award in SEC's history.

The second whistleblower received $4 million for voluntarily providing original information that led to the successful enforcement action, but this information was provided to the SEC after the staff had opened an investigation and undertaken significant investigative steps.

"Whistleblowers can play an extraordinary role in helping the SEC ferret out wrongdoing," said Emily Pasquinelli, Acting Chief of the SEC's Office of the Whistleblower. "Whistleblowers may provide critical information based on their own independent analysis that facilitates the SEC's investigation and the successful resolution of the enforcement action."

The SEC has awarded approximately $1 billion to 207 individuals since issuing its first award in 2012, including over $500 million in fiscal year 2021 alone.