SEC grants $20 million whistleblower award

On November 28, 2022, the Securities and Exchange Commission awarded one whistleblower $20 million for providing original information that led to a successful enforcement action.  According to the SEC, the claimant provided significant information on an ongoing basis that enabled the SEC to understand complex issues in the investigation more quickly and efficiently.  The award was granted despite the claimant’s own involvement for a short time at the direction of his/her supervisor in the underlying misconduct.  The SEC also stated that the claimant delayed reporting the underlying conduct for more than two years, a delay the SEC said it took into account in determining the award amount.

Since issuing its first award in 2012, the SEC has issued more than $1.3 billion in rewards to whistleblowers.

SEC Press Release | SEC Order

 
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