SEC Issues $12 Million Award to Joint Whistleblowers

The Securities and Exchange Commission today announced a $12 million award to be split among three joint whistleblowers who provided critical information and assistance in an SEC enforcement action. The joint whistleblowers provided the SEC significant information and extensive cooperation, which helped expand the scope of the investigation and the charges brought in the enforcement action and also saved the agency substantial time and resources. The joint whistleblowers met numerous times with SEC’s enforcement staff and certain of the joint whistleblowers suffered hardships due to their whistleblowing. “Whistleblowers play a key role in helping the SEC hold wrongdoers accountable,” said Creola Kelly, Chief of the SEC’s Office of the Whistleblower.