Friday, October 13, 2017 1.48PM / US SEC
U.S. Securities and Exchange Commission yesterday announced that a
whistleblower has earned an award of more than $1 million for providing the SEC
with new information and substantial corroborating documentation of a
securities law violation by a registered entity that impacted retail
award reflects the impact that whistleblower information can have in uncovering
violations that harm the retail investor,” said Jane Norberg, Chief of the
SEC’s Office of the Whistleblower. “We welcome high-quality information
about potential securities-law violations from those in and outside a company.”
than $162 million has been awarded to 47 whistleblowers. By law, the SEC
protects the confidentiality of whistleblowers and does not disclose
information that might directly or indirectly reveal a whistleblower’s
identity. Whistleblowers may be eligible for an award when they
voluntarily provide the SEC with original, timely, and credible information
that leads to a successful enforcement action.
awards can range from 10 percent to 30 percent of the money collected when the
monetary sanctions exceed $1 million. All payments are made out of an
investor protection fund established by Congress that is financed entirely
through monetary sanctions paid to the SEC by securities law violators.
No money is taken or withheld from harmed investors to pay whistleblower awards.