SEC Grants Over $37 Million to Whistleblower

The U.S. Securities and Exchange Commission (SEC) has awarded more than $37 million to a whistleblower whose invaluable information played a crucial role in a successful legal action against securities violations. This landmark award underscores the SEC's commitment to transparency and investor protection.

The whistleblower's contribution not only unveiled critical information previously unknown to the agency but also involved direct collaboration with SEC enforcement staff. By identifying potential witnesses and essential documents, the whistleblower significantly streamlined the investigation process, saving considerable time and resources.

“Today’s award highlights the vital role that whistleblowers play in our mission to protect investors and maintain the integrity of the financial markets,” commented Creola Kelly, Chief of the SEC’s Office of the Whistleblower.

This award comes from an investor protection fund, created by Congress and funded entirely through penalties imposed on securities law violators. Whistleblowers are eligible for compensation when they provide original, credible, and timely information that leads to successful enforcement actions. Awards can range from 10% to 30% of the sanctions collected, particularly when the total exceeds $1 million.

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