The Securities and Exchange Commission (SEC) announced a second award to a whistleblower after their information provided led to a successful related action by the Department of Justice.
The individual will receive $2 million in addition to the previous bounty they were already awarded for contributions to an SEC enforcement action based on the same information. The SEC redacted any other information related to the previous award, including its value.
Recent amendments that clarified what type of actions meet the threshold of “related” under whistleblower rules led to the individual’s eligibility for the second award.
“The SEC’s whistleblower rule amendments make clear that non-prosecution and deferred prosecution agreements entered into by the DOJ are related actions upon which whistleblowers may receive awards,” said Emily Pasquinelli, acting chief of the SEC’s Office of the Whistleblower, in a press release Friday. “Today’s award demonstrates the SEC’s commitment to award whistleblowers not only for their contributions to a successful SEC enforcement action but also for their contributions to qualifying related actions.”
The SEC has awarded approximately $1.1 billion to 224 individuals since issuing its first whistleblower payout in 2012.
No comments yet