The U.S. Securities and Exchange Commission (SEC) announced on Friday that, for the second time this week, a tipster who provided the regulator with information that led to multiple enforcement actions will receive a whistleblower award.
The whistleblower will receive more than US$900,000 under the SEC’s program that pays financial awards to tipsters. The SEC does not reveal the details of these cases to protect the identity of whistleblowers.
On Monday, the SEC announced that it had awarded a whistleblower approximately US$3.5 million for tipping the regulator to misconduct that generated a successful enforcement action.
Since the program was launched, the SEC has paid bounties to 37 whistleblowers totalling more than US$136 million for coming forward with original, useful information that generates significant enforcement action.
“With the issuance of this second award in less than one week, we hope to continue to encourage individuals to submit high-quality tips that we can leverage to enforce the law and protect investors,” says Jane Norberg, chief of the SEC’s Office of the Whistleblower, in a statement, “and they can receive significant financial rewards for their valuable contributions to a case.”
See also: SEC rewards securities industry whistleblower a US$3.5-million award