SEC Issues Whistleblower Nearly $5 Million Award

Press Release

Washington, D.C. — The Securities and Exchange Commission (SEC) today announced an award of nearly $5 million to a whistleblower who provided critical information and assistance that led to the success of a covered action.

According to the details, the whistleblower’s information helped the SEC to more quickly and efficiently bring an action that returned millions of dollars to harmed investors. “Today’s award underscores the vital role that whistleblowers play in the SEC’s enforcement program and the protection of investors,” said Creola Kelly, Chief of the SEC’s Office of the Whistleblower.

“Because of the information and assistance provided by the whistleblower, a significant amount of money was returned to victims of the securities laws violations,” Kelly added.

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The SEC has awarded approximately $1.2 billion to 236 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 to 30 percent of the money collected when the monetary sanctions exceed $1 million.

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As set forth in the Dodd-Frank Act, the Securities and Exchange Commission (SECP) protects the confidentiality of whistleblowers and does not disclose any information that could reveal a whistleblower’s identity.

For more information about the whistleblower program and how to report a tip, visit www.sec.gov/whistleblower.

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