SEC Awards More Than $5 Million to Whistleblower

The Securities and Exchange Commission today announced an award of more than $5 million to a whistleblower whose information led to a successful SEC enforcement action. The whistleblower provided a tip and additional information that helped SEC staff shape its investigative strategy, identify witnesses, and draft document and information requests. The whistleblower also internally reported concerns prior to submitting information to the SEC. "­Th­­­­­­­­­e whistleblower in this case provided helpful information and substantial ongoing assistance, saving the SEC time and resources during its investigation," said Creola Kelly, Chief of the SEC’s Office of the Whistleblower. Payments to whistleblowers are made out of an investor protection fund, established by Congress, which is financed entirely through monetary sanctions paid to the SEC by securities law violators.