This week, the U.S. Securities and Exchange Commission announced two whistleblower awards.
On July 25, there was an award of nearly US$2.5 million to an employee of a domestic government agency, says the SEC in a release.
”This whistleblower not only helped us open the case, but also provided timely ongoing assistance along with critical documents and testimony that accelerated the pace of our enforcement action,” says Jane Norberg, chief of the SEC’s Office of the Whistleblower.
On July 27, there was a whistleblower award of more than US$1.7 million to a company insider whom the SEC says provided them with critical information to help stop a fraud that would have otherwise been difficult to detect. The SEC adds millions of dollars were returned to harmed investors as a result of the ensuing investigation and enforcement action.
Approximately US$158 million has been awarded to 46 whistleblowers who have voluntarily provided the SEC with information that led to successful enforcement actions.
Also read:
SEC offered 2 whistleblower awards in one week (article from Dec 2016)