SEC Awards More Than $4 Million to Whistleblower

The Securities and Exchange Commission today announced an award of more than $4 million to a whistleblower who alerted SEC staff to certain violations, prompting the opening of an investigation. The whistleblower then provided substantial assistance by meeting with SEC staff, identifying key players, and providing additional helpful information and documents. “Whistleblowers may be uniquely positioned to provide the kind of information and assistance that can prove instrumental to the successful resolution of an enforcement action,” said Emily Pasquinelli, Acting Chief of the SEC’s Office of the Whistleblower. “Whistleblowers play a critical role in helping the SEC detect securities laws violations and better protect investors.” The SEC has now awarded approximately $905 million to 164 individuals since issuing its first award in 2012.