SEC Awards Over $104 Million to Seven Whistleblowers

Today, the Securities and Exchange Commission (SEC) announced the awarding of more than $104 million to seven whistleblowers who provided information and assistance that lead to successful SEC enforcement actions and related cases brought by other agencies. The SEC Whistleblower Program's fourth largest awards was divided between two joint claimants and three single claimants who contributed to the case through providing documents, interviews, or identifying witnesses. According to Creola Kelly, Chief of the SEC’s Office of the Whistleblower, “Today’s awards show that specific and credible information plays an integral part in the SEC’s enforcement efforts.” The payments were made out of an investor protection fund, which is financed solely through sanctions paid by law-breaking securities firms and do not take from harmed investors. A qualified eligible whistleblower may receive an award of between 10-30 percent of the money collected when the penalty surpasses $1 million for the violations. The SEC respects the confidentiality of the whistleblowers and refrains from disclosing any information that can reveal their identity.