On August 23, 2024, the Securities and Exchange Commission announced awards for two whistleblowers totaling more than $98 million for providing information and assistance that led to a successful SEC enforcement action and a separate action brought by an unnamed agency. Specifically, Claimant 1 received $82 million and Claimant 2 received $16 million.
According to the SEC Order, Claimant 1 received a significantly higher portion of the award because his/her tip prompted the SEC and an unnamed agency to open their investigations, and Claimant 1 provided information that “had a significantly greater impact on the success of the enforcement actions” than Claimant 2’s information. The SEC Order also stated that Claimant 2 provided information more than a year after the SEC investigation had opened, and, although Claimant 2 provided new and helpful information, it related to just one transaction under investigation, whereas Claimant 1’s information related to all the transactions under investigation.