SEC Awards Approximately $2 Million to Whistleblower

The Securities and Exchange Commission today announced an award of approximately $2 million to a whistleblower who provided vital information and assistance that substantially contributed to an ongoing investigation. The whistleblower’s information would have been difficult for the agency to obtain absent the tip. “The whistleblower’s actions in this matter were extraordinary,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “The whistleblower expeditiously reported the information to the Commission and provided valuable assistance despite implied threats from the wrongdoers.” The SEC has awarded over $398 million to 78 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators.