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Two SEC Whistleblowers Share $50 Million Award

The SEC has announced one of the largest whistleblower awards since the creation of the agency’s whistleblower program. Two anonymous securities industry insiders will share a $50 million award for assisting the Commission in a large-scale fraud investigation. The probe led to the restitution of tens of millions of dollars to harmed investors. The defendant’s name remains confidential. The SEC said in a statement that the whistleblowers...
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Whistleblower Rules, Realities, & Rewards

  • SEC Amends Whistleblower Award Determination Rules

    The Securities and Exchange Commission will change the way it determines whistleblower award amounts. In a 3-2 vote, the commissioners have approved a set of amendments to the current rules governing monetary awards made to tipsters. The SEC said in a statement that the amendments...
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  • SEC Awards More Than $10 Million to Whistleblower

    On Sept. 14, 2020, the Securities and Exchange Commission announced it was issuing an award of more than $10 million to a whistleblower whose information and assistance were essential to a successful SEC fraud investigation. Jane Norberg, Chief of the SEC's Office of the Whistleblower...
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  • SEC Whistleblower Awards Surpass $500 Million

    New York whistleblowers have submitted 950 tips to the Securities Exchange Commission since the creation of its whistleblower program. Over nearly a decade, the program has led to more than $2 billion in monetary sanctions and $500 million in whistleblower awards. In June 2020,...
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