SEC Awards Approximately $3.6 Million to Whistleblower

The Securities and Exchange Commission today announced an award of approximately $3.6 million to a whistleblower whose information and assistance led to a successful SEC enforcement action. “The whistleblower brought valuable information to the attention of the SEC, causing it to open a new investigation into wrongdoing,” said Emily Pasquinelli, Acting Chief of the SEC’s Office of the Whistleblower. “The whistleblower further assisted the SEC by providing ongoing assistance as the Commission’s investigation progressed. This award shows the significant help a whistleblower can provide by sharing information of potential violations of the federal securities laws with the Commission.” The SEC has awarded approximately $842 million to 157 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.