The U.S. Securities and Exchange Commission (SEC) is paying out another seven-figure sum to a corporate whistleblower.
The SEC announced that its latest financial award, approximately US$2 million, is going to a tipster who provided the agency with “vital information” that aided an ongoing regulatory investigation.
While the details of these awards are kept secret to preserve the anonymity of whistleblowers, the SEC said that, in this case, the information provided by the tipster would have been difficult for the SEC to obtain without their tip.
“The whistleblower’s actions in this matter were extraordinary,” said Jane Norberg, chief of the SEC’s Office of the Whistleblower.
“The whistleblower expeditiously reported the information to the commission and provided valuable assistance despite implied threats from the wrongdoers,” she said.
With this latest payout, the SEC has now awarded over US$398 million to 78 individuals since paying its first award in 2012.