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SEC Awards Joint Whistleblowers $12 Million

The SEC awarded three joint claimants $12 million for providing information and assistance in an SEC investigation and enforcement action.

According to the SEC Order, the claimants expanded the scope of the investigation and facilitated the charges in the case. The SEC found that the claimants met with enforcement staff multiple times and that the information provided allowed the staff to save significant time and resources. In addition, the SEC stated that the claimants' leads were heavily relied upon throughout the investigation and that "certain [claimants] suffered hardships due to their whistleblowing."

 

Primary Sources

  1. SEC: Press Release: SEC Issues $12 Million Award to Joint Whistleblowers
  2. SEC: Order

Tags

Regulated Activities
Enforcement Procedures
Sub-Activity
Whistleblowing
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
SEC