SEC Awards $20 Million to Whistleblower

The Securities and Exchange Commission today announced an award of $20 million to a whistleblower who provided new and critical information that led to the success of an enforcement action. In determining the appropriate award amount, the SEC considered that the whistleblower provided significant information and continuing assistance that helped Enforcement Division staff more quickly and efficiently investigate complex issues. "Today’s whistleblower played a crucial role in the ultimate success of the enforcement proceeding," said Creola Kelly, Chief of the SEC’s Office of the Whistleblower. "Whistleblowers can help advance existing investigations in meaningful ways when their information saves the agency time and resources, and when their contributions allow SEC staff to better understand complicated issues." Payments to whistleblowers are made out of an investor protection fund, established by Congress, which is financed entirely through monetary sanctions paid to the SEC by securities law violators.