Another Successful Whistleblower – $3.6 Million

The SEC has awarded approximately $3.6 million to a whistleblower whose information and assistance led to a successful SEC enforcement action. 

The SEC has awarded approximately $842 million to 157 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.  No money has been taken or withheld from harmed investors to pay whistleblower awards.  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.

“The whistleblower brought valuable information to the attention of the SEC, causing it to open a new investigation into wrongdoing,” said Emily Pasquinelli, Acting Chief of the SEC’s Office of the Whistleblower.  “The whistleblower further assisted the SEC by providing ongoing assistance as the Commission’s investigation progressed.  This award shows the significant help a whistleblower can provide by sharing information of potential violations of the federal securities laws with the Commission.”