19 Sep 2018
The Securities and Exchange Commission (SEC) is awarding $39 million to a whistleblower, the second-largest award in the history of its whistleblower programme, as well as $15 million to another.
The SEC said the information and assistance it was given helped it bring an ‘important enforcement action.’
Jane Norberg, Chief of the SEC’s Office of the Whistleblower, said: “Whistleblowers serve as invaluable sources of information, and can propel an investigation forward by helping us overcome obstacles and delays in investigation.”
“These substantial awards send a strong message about the SEC’s commitment to whistleblowers and the value they bring to the agency’s mission.”
Whistleblowers may be eligible for an award when they voluntarily provide the SEC with ‘original, timely, and credible information’ that leads to a successful enforcement action.
Their awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.
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