The Securities and Exchange Commission (SEC) announced giving more than $28 million award to a whistleblower who provided significant information that aided the SEC in bringing a successful enforcement action. The whistleblower internally reported information that prompted the company to initiate an internal investigation, and saved the staff time and resources by providing testimony and identifying a key witness.
Jane Norberg, Chief of the SEC’s Office of the Whistleblower said:
In the past month alone, the Commission has awarded four whistleblowers over $150 million for their important contributions to the Commission’s efforts to detect wrongdoing and protect investors and the marketplace. I hope our recent awards will continue to incentivize whistleblowers to come forward to report potential fraud or other wrongdoing.