SEC awards $1.6M to whistleblower for case-opening intel. Exposing Misconduct.

SEC awards $1.6M to whistleblower for case-opening intel

March 23, 2020

The Securities and Exchange Commission on Monday announced an award of more than $1.6 million to a whistleblower whose information formed part of the basis for charges brought in a successful enforcement action.

According to the SEC’s order, the whistleblower’s insight caused staff in the Division of Enforcement to open an investigation and supported some of the charges brought in the covered action. The SEC further noted the allegations would have been hard to detect without the whistleblower’s assistance, thus saving the Commission time and resources.

“This matter highlights the importance of the SEC’s whistleblower program to the agency’s enforcement efforts and to its ability to maximize staff resources,” said Jane Norberg, chief of the SEC’s Office of the Whistleblower, in a press release.

Read more here.
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