• Sun. May 9th, 2021

SEC Awards Over $1.25 Million to Whistleblower

SEC Awards Over $1.25 Million to Whistleblower

Washington DC (STL.News) The Securities and Exchange Commission today announced an award of over $1.25 million to a whistleblower whose significant information prompted the agency to initiate a cause examination and bring an enforcement action that resulted in the return of millions of dollars to harmed investors.

“The whistleblower’s expeditious reporting alerted the agency to previously unknown securities violations,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower.  “This whistleblower’s vigilance and prompt reporting helped the agency move quickly to protect investors, resulting in the return of millions of dollars to harmed investors.”

The SEC has awarded over $507 million to 90 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.

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 how to report a tip, visit www.sec.gov/whistleblower.

Marty Smith

Marty Smith

Marty Smith is the acting Editor in Chief as well as the founder of STL.News, DirectSourceNews.org, and St. Louis Restaurant Review. Additionally, Smith is the IT Manager responsible for STL.News and affiliate sites. Smith has created multiple aggregator sites to manage the large amount of content used to select which content to published on STL.News. As Editor in Chief, Smith is responsible for the content posted on the network with the help of the publishing team, which is located around the globe.