The SEC issued awards totaling almost $3 million to two whistleblowers for providing original information that led to two separate successful enforcement actions.
In the first SEC Order, the whistleblower was awarded approximately $2.2 million for providing high-quality information that helped the SEC return millions of dollars to harmed clients. The whistleblower reported concerns internally in an effort to remedy the misconduct.
In the second action, the whistleblower was awarded almost $700,000 for alerting SEC staff to a fraudulent reporting scheme. The whistleblower provided ongoing assistance, including documents and identification of relevant witnesses. The whistleblower also raised concerns internally before timely reporting them to the SEC.
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