(HedgeCo.Net) The Securities and Exchange Commission today announced awards totaling $50 million to two whistleblowers whose high-quality information assisted the agency in bringing a successful enforcement action. One whistleblower received an award of $37 million and the other received an award of $13 million. The $37 million award is the Commission\u2019s third-highest award to date after the $50 million award made in March 2018 to joint whistleblowers and more than $39 million award announced in September 2018. <\/p>\n
\u201cWhistleblowers like those being awarded today may be the source of \u2018smoking gun\u2019 evidence and indispensable assistance that strengthens the agency\u2019s ability to protect investors and the capital markets,\u201d said Jane Norberg, Chief of the SEC\u2019s Office of the Whistleblower. \u201cThese awards show how critically important whistleblowers can be to the agency\u2019s investigation and ability to bring a case to successful and efficient resolution.\u201d<\/p>\n
The SEC has now awarded approximately $376 million to 61 individuals since issuing its first award in 2012. 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 has been taken or withheld from harmed investors to pay whistleblower awards. 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. Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.<\/p>\n
The SEC protects the confidentiality of whistleblowers and does not disclose information that could reveal a whistleblower\u2019s identity as required by the Dodd-Frank Act.<\/p>\n","protected":false},"excerpt":{"rendered":"
(HedgeCo.Net) The Securities and Exchange Commission today announced awards totaling $50 million to two whistleblowers whose high-quality information assisted the agency in bringing a successful enforcement action. One whistleblower received an award of $37 million and the other received an […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-68595","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/68595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=68595"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/68595\/revisions"}],"predecessor-version":[{"id":68596,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/68595\/revisions\/68596"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=68595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=68595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=68595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}