More U.S. whistleblowers are receiving payouts from the U.S. Securities and Exchange Commission (SEC) for tips that helped launch regulatory enforcement actions.
The SEC said that the tipsters provided “significant information and assistance” that helped it bring multiple successful enforcement actions.
“The whistleblowers in this matter played a critical role in the investigation and helped the agency bring antifraud charges that halted ongoing conduct,” said Jane Norberg, chief of the SEC’s Office of the Whistleblower.
One of the tipsters was paid approximately US$478,000, while the other received US$94,000.
“The substantially higher award granted to the first whistleblower demonstrates the importance of providing information early in the investigation and the benefit to whistleblowers where the information leads to multiple enforcement actions,” Norberg said.
On Monday, the SEC announced a US$1.6 million whistleblower award. With these latest payouts, the SEC has now paid approximately US$396 million to 76 individuals since paying its first award in 2012.