SEC Awards Whistleblower Over $20 Million

The SEC awarded more than $20 million to a whistleblower who provided original information that contributed to a successful SEC enforcement action.

The SEC said that the investigation was initiated more than a year prior to the whistleblower's participation, that much of the information provided had already been discovered by the SEC and that the new information provided by the whistleblower was "fairly limited." The SEC determined, however, that the whistleblower was eligible for the award due to the whistleblower's continuous cooperation and interaction with the SEC investigating team.