SEC Awards More Than $10 Million to Whistleblower

The Securities and Exchange Commission today announced an award of more than $10 million to a whistleblower whose information and assistance were of crucial importance to a successful SEC enforcement action. "This award recognizes the persistent efforts of the whistleblower to expose serious financial misconduct," said Jane Norberg, Chief of the SEC's Office of the Whistleblower. "This whistleblower also provided extensive and ongoing assistance to the investigative team over the course of the investigation, including identifying witnesses and helping staff understand complex fact patterns and issues related to the matters under investigation." The SEC has awarded approximately $520 million to 94 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.