SEC Issues Awards Totaling More Than $4 Million to Whistleblowers

The Securities and Exchange Commission today announced two awards totaling more than $4 million to whistleblowers who provided information and assistance in two separate covered actions. In the first order, the SEC issued an award of approximately $2.6 million to one whistleblower. The whistleblower, who reported internally before reporting to the Commission, provided significant new information during an existing investigation that alerted SEC staff to misconduct occurring overseas, which would have been difficult to detect in the absence of the whistleblower’s information. In the second order, the SEC issued approximately $1.5 million to joint whistleblowers who provided substantial ongoing assistance throughout the course of the investigation that led to the success of the covered action.