SEC Awards Almost $250,000 to Joint Whistleblowers

The Securities and Exchange Commission today announced an award of nearly $250,000 to joint whistleblowers whose tip caused the opening of an investigation that resulted in a successful enforcement action. The whistleblowers raised concerns internally before reporting the concerns to the Commission. “The whistleblowers’ information alerted Commission staff to the potential securities violations and prompted the staff to open an investigation,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “While the case was largely built through the investigative efforts of the Commission staff, this award highlights the importance of receiving that initial tip that can break open the case.” The SEC has awarded approximately $521 million to 96 individuals since issuing its first award in 2012.