SEC Issues Whistleblower Awards Totaling More Than $4 Million

The Securities and Exchange Commission today announced awards of more than $4 million to four whistleblowers who provided information and assistance in two separate enforcement proceedings. In the first order, the SEC awarded more than $2 million to a whistleblower who provided valuable information that resulted in SEC staff initiating an investigation, as well as ongoing assistance that included participating in multiple interviews and identifying key individuals and entities. The SEC also awarded more than $150,000 to another whistleblower, whose information prompted SEC staff to expand its investigation into other alleged conduct at the relevant company. In the second order, the SEC awarded more than $1.1 million to a whistleblower who reported misconduct internally and was the first to alert the SEC to the violations. The SEC also awarded another whistleblower more than $500,000.