SEC Issues $1.8 Million Whistleblower Award to a Company Outsider

The Securities and Exchange Commission today announced an award of over $1.8 million to a company outsider, who expeditiously reported significant information to the Commission about ongoing securities law violations. “Today’s award marks a milestone for the whistleblower program,” said SEC Chairman Jay Clayton. “This whistleblower is the 100th individual to receive an award under the program since its inception, and the 33rd individual awarded so far this year. The pace and the amounts of the awards in recent years underscore the Commission’s commitment to increasing the efficiency and effectiveness of the whistleblower program. We remain dedicated to working quickly to get more money into the hands of whistleblowers, including through the improvements that will be implemented as a result the amendments approved by the Commission last week.” “Today’s award demonstrates the success of the program and the important role that company outsiders can play in halting ongoing violations,” said Jane Norberg, Chief of the SEC’s…