August 29, 2019

Whistleblower receives $1.8 million for reporting misconduct abroad

On August 29, 2019, the US Securities and Exchange Commission announced a $1.8 million award to a whistleblower for providing “critically important” information in connection with an SEC enforcement action involving misconduct committed overseas.  The whistleblower alerted the SEC to the misconduct which caused of the SEC to begin the investigation.  During the course of the investigation, the whistleblower provided “extensive and ongoing cooperation,” including identifying witnesses, reviewing documents, providing sworn testimony, assisting the SEC staff with preparation for testimony, and encouraging witnesses to cooperate in the investigation. According to the SEC, the violations at issue, which occurred abroad, would have been difficult or impossible to prove without the whistleblower’s “stellar” information. 

SEC press release | SEC order