The Securities and Exchange Commission this week announced that it has awarded nearly $4 million to a whistleblower who tipped the agency with detailed and specific information about serious misconduct and provided additional assistance during the ensuing investigation, including industry-specific knowledge and expertise.
“Not only did this whistleblower step forward and report suspicious conduct, but continued to help after we opened our investigation,” Jane Norberg, Chief of the SEC’s Office of the Whistleblower, said in a statement. “Whistleblowers with specialized experience or expertise can help us expend fewer resources in our investigations and bring enforcement actions more efficiently.”
Approximately $153 million has now been awarded to 43 whistleblowers who became eligible for an award after voluntarily providing the SEC with original and useful information that led to successful enforcement actions. SEC enforcement actions from whistleblower tips have resulted in more than $953 million in financial remedies against wrongdoers.