SEC Issues Awards Totaling Approximately $3 Million to Three Whistleblowers

The Securities and Exchange Commission today announced three awards totaling approximately $3 million to whistleblowers who provided information and assistance in three separate covered actions. In the first order, the SEC issued an award of approximately $1.5 million to a whistleblower who provided new information that caused the SEC staff to commence an examination and later open a new investigation into potential securities laws violations. The whistleblower also assisted the staff during the course of the investigation. In the second order, the SEC awarded a whistleblower more than $1 million for providing information that prompted the opening of an investigation. The whistleblower, an insider who also reported concerns internally, provided continuing assistance to the staff, including multiple interviews. In the third order, the SEC awarded more than $400,000 to a whistleblower whose comprehensive tip led to an investigation, and thereafter provided substantial ongoing cooperation.