SEC Issues Multiple Whistleblower Awards Totaling Nearly $3 Million

The Securities and Exchange Commission today announced whistleblower awards to five individuals for information provided in three different enforcement actions for combined payments of nearly $3 million. In the first order, the SEC awarded the whistleblower nearly $1.8 million. The whistleblower, a company insider, provided information that would have been difficult to detect in the absence of the tip and provided extraordinary assistance to SEC staff resulting in the return of money to investors. In the second order, the SEC awarded a total of approximately $750,000 to two whistleblowers. The first whistleblower provided a detailed tip that prompted the opening of the investigation and received an award of more than $500,000. In awarding this whistleblower, the SEC exercised its discretion to waive the TCR filing requirement.