The Securities and Exchange Commission on Monday announced an award of more than $1.6 million to a whistleblower whose information formed part of the basis for charges brought in a successful enforcement action.
According to the SEC’s order, the whistleblower’s insight caused staff in the Division of Enforcement to open an investigation and supported some of the charges brought in the covered action. The SEC further noted the allegations would have been hard to detect without the whistleblower’s assistance, thus saving the Commission time and resources.
