SEC Awards Nearly $3 Million to Whistleblower

The Securities and Exchange Commission today announced an award of nearly $3 million to a whistleblower whose information and assistance led to a successful SEC enforcement action. “The whistleblower alerted the SEC to previously unknown conduct and then provided substantial additional assistance, which conserved a considerable amount of SEC resources,” said Emily Pasquinelli, Acting Chief of the SEC’s Office of the Whistleblower. “We have recently given awards to a significant number of whistleblowers, like the one awarded today, who played an important role in our enforcement program’s success.” The SEC has awarded approximately $942 million to 186 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.