SEC Awards More Than $7 Million to Whistleblower

The Securities and Exchange Commission today announced an award of more than $7 million to a whistleblower whose information and assistance were critically important to the success of an enforcement action. The whistleblower provided extensive and sustained assistance, such as identifying witnesses. “The whistleblower showed great tenacity and effort in attempting to expose the misconduct that was the basis for the SEC’s action,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “The whistleblower’s information and assistance helped the SEC staff devise an investigative plan, craft document requests, and ultimately bring an important enforcement action focusing on serious financial abuses.” The SEC has awarded approximately $394 million to 73 individuals since issuing its first award in 2012.