SEC awards more than $12M to two whistleblowers
Reprints
The U.S. Securities and Exchange Commission said Friday it has awarded more than $12 million to two whistleblowers who provided information and assistance in a successful enforcement action.
The SEC said in its statement that the first whistleblower, who will receive more than $9 million, prompted the opening of the investigation and provided information that would otherwise have been difficult to detect.
The agency said he identified key witnesses, helped staff understand complex fact patterns and issues, and made persistent efforts to remedy the issue.
The second whistleblower, who will receive more than $3 million, submitted important new information during the course of the investigation, the SEC said.
In January, the SEC said it was awarding more than $28 million to joint whistleblowers, bringing its total whistleblower awards to more than $101 million since October.
