The SEC awarded more than $18 million to a whistleblower whose significant information prompted an examination that resulted in an important enforcement action.
The SEC has awarded over $448 million to 81 individuals since issuing its first award in 2012. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.
As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose information that could reveal a whistleblower’s identity.
For more information about the whistleblower program and for assistance in reporting a tip, contact Mark Astarita, of Sallah Astarita & Cox, LLC at 212-509-6544.