Furthermore, the whistleblower’s information helped the SEC carry out law enforcement interests by enabling it to bring an action addressing particular misconduct. The whistleblower repeatedly and tenaciously opposed and raised concerns regarding the misconduct within the organization.
One of the largest award for a whistleblower
In a statement, Commission’s Office of Whistleblower Chief Jane Norberg commented, “This award marks several milestones for the program. This is the largest whistleblower award announced by the Commission this year, and the sixth-largest award overall since the inception of the program. This award also brings the total amount awarded to whistleblowers by the SEC over the $400 million mark.”
Since issuing its first whistleblower award in 2012, the SEC already released approximately $427 million to 79 individuals who provided original, timely, and credible information that leads to successful enforcement action. Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million, according to the SEC.
