The U.S. Securities and Exchange Commission revealed that it is awarding nearly $4 million to a whistleblower.
This is the 10th highest whistleblower award to date, to an individual who alerted the agency about securities misconduct. Roughly, $153 million has now been awarded to 43 whistleblowers who became eligible for an award after voluntarily providing the SEC with original and useful information that led to successful enforcement actions. The SEC does not identify whistleblowers or their companies.
Reportedly, the whistleblower helped the agency “with detailed and specific information about serious misconduct and provided additional assistance during the ensuing investigation, including industry-specific knowledge and expertise.”
According to the SEC, enforcement actions from whistleblower tips have resulted in more than $953 million in financial remedies against wrongdoers.
Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.
