December 6, 2020

SEC grants $6 million joint whistleblower

On December 1, 2020, the US Securities and Exchange Commission announced an award of more than $6 million to two joint whistleblowers who provided substantial assistance to the SEC and another unnamed government agency, leading to multiple successful enforcement actions.

According to the SEC’s Order, the whistleblowers—who jointly submitted their tips to the SEC via the same counsel—submitted original information and documents, participated in interviews, and identified key players involved in misconduct, in connection with a complex scheme “involving multiple individuals and tens of millions of dollars in ill-gotten gains.”  Each whistleblower will receive 50 percent of the joint award, unless both jointly request a different allocation within ten days of the Order.

The SEC has awarded approximately $728 million to 118 whistleblowers since the program began in 2012.

SEC Press Release | SEC Order