Whistleblowers received a joint $12 million for providing critical information and assistance in a SEC enforcement action.
Normally whistleblower awards can range from 10% to 30% of the money collected through monetary sanctions to companies.
“Whistleblowers play a key role in helping the SEC hold wrongdoers accountable,” said Creola Kelly, Chief of the SEC’s Office of the Whistleblower. “Even where an investigation is already open, whistleblowers may contribute by providing new information about misconduct.”
Payments to whistleblowers are made out of an investor protection fund financed entirely through monetary sanctions.
The SEC does not reveal any information which could reveal the whistleblowers identity.
By Staff
