December 13, 2022

SEC grants more than 20 million to whistleblower

On December 12, 2022, the US Securities and Exchange Commission awarded more than $20 million to a whistleblower who provided original information that led to a successful enforcement action.  Although the SEC had already been investigating the wrongful conduct for more than a year when the claimant’s tip was received, and  the new information provided in the tip was “fairly limited,” the SEC found nevertheless that an award was warranted because the claimant had provided some new information, had met with the SEC multiple times, and  had “remained cooperative throughout the investigation.”

Since the whistleblower program began in 2012, the SEC has issued more than $1.3 billion in rewards to whistleblowers.

SEC Press Release | SEC Order