SEC Awards Two More Whistleblowers A Total of $54M

The Securities and Exchange Commission recently announced that the agency has awarded two more individuals funds totaling $54 million under the SEC’s Whistleblower Program.

The first individual was awarded $39 million, and the second was awarded $15 million. Both offered information and assistance that resulted in enforcement actions. The $39 million award is the second largest award in the program’s history.

After voluntarily providing the SEC with “original, timely, and credible information that leads to a successful enforcement action,” individuals may be eligible for monetary awards. For sanctions exceeding $1 million, whistleblowers may be awarded as much as 10% to 30%. Whistleblowers are a great help to an investigation, and can supply valuable information that might not otherwise be available.

The SEC does not disclose the identity of whistleblowers, nor any information that could directly or indirectly disclose someone’s identity. However, the SEC has picked up the pace of awarding whistleblowers after an arguably slow start to the program.  The SEC has now awarded multiple whistleblowers millions of dollars.

Silver Law Group represents whistleblowers in securities and investment fraud cases reported to the SEC. Our lawyers are admitted to practice in New York and Florida and represent SEC whistleblowers nationwide.  These cases handled on a contingent fee basis.  Call us toll free at 800-975-4345, or use our online contact form to get in touch.