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SEC Awards Whistleblower over $1.7 Million

The SEC awarded more than $1.7 million to a whistleblower for reporting "critical information" that helped to stop a fraud which otherwise "would have been difficult to detect."

According to the SEC, the subsequent investigation and enforcement action resulted in the return of millions of dollars to fraud victims. SEC Office of the Whistleblower Chief Jane Norberg noted the impact of the company insider's contribution:

"This whistleblower's valuable information enabled us to stop further investor harm and ultimately return money to victims."

Primary Sources

  1. SEC Press Release: "SEC Announces Whistleblower Award of More than $1.7 Million" (July 27, 2017)
  2. SEC Order Determining Whistleblower Award Claim

Tags

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