The Securities and Exchange Commission (SEC) announced giving more than $6 million award to five individuals for information provided in three different enforcement actions for combined payments of nearly $3 million.
The SEC awarded whistleblower almost $1.8 million. The whistleblower is a company insider who provided information that would have been difficult to detect in the absence of the tip and provided extraordinary assistance to SEC staff resulting in the return of money to investors.
The agency also awarded a total of approximately $750,000 to two whistleblowers. The first one provided a detailed tip that prompted the opening of the investigation and received an award of over $500,000. In awarding this whistleblower, the SEC exercised its discretion to waive the TCR filing requirement. The second whistleblower, who received over $250,000, provided new information that resulted in the inclusion of additional allegations in the covered action. Both whistleblowers provided substantial assistance, including participating in interviews and providing subject matter expertise.
The Commission also jointly awarded nearly $400,000 to two individuals whose analysis prompted the opening of an investigation that led to the SEC’s enforcement action. They also provided substantial and continuing assistance during the course of the investigation.
