Securities Regulation Daily Wrap Up, TOP STORY—SEC issues whistleblower awards totaling $4.1M, (Jan 11, 2022)

By Elena Eyber, J.D.

The SEC issued two awards totaling more than $4 million to whistleblowers who provided information and assistance in two separate covered actions.

The SEC issued two awards to whistleblowers who provided information and assistance in two separate covered actions. The SEC issued the first award of $2.6 million to one whistleblower wh ...

By Elena Eyber, J.D.

The SEC issued two awards totaling more than $4 million to whistleblowers who provided information and assistance in two separate covered actions.

The SEC issued two awards to whistleblowers who provided information and assistance in two separate covered actions. The SEC issued the first award of $2.6 million to one whistleblower who reported internally before reporting to the Commission, and provided significant new information during an existing investigation that alerted SEC staff to misconduct occurring overseas. The SEC issued the second award of $1.5 million to two whistleblowers who provided substantial ongoing assistance throughout the course of the investigation that led to the success of the covered action.

$2.6 million award. In the first order, the SEC issued an award of approximately $2.6 million to one whistleblower. The whistleblower, who reported internally before reporting to the Commission, provided significant new information during an existing investigation that alerted SEC staff to misconduct occurring overseas, which would have been difficult to detect in the absence of the whistleblower’s information.

$1.5 million award. In the second order, the SEC issued approximately $1.5 million to joint whistleblowers who provided substantial ongoing assistance throughout the course of the investigation that led to the success of the covered action. The joint whistleblowers had multiple communications with SEC staff and provided information about key witnesses.

The releases are Nos. 34-93935 and 34-93936.

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