US SEC Doles Out $114M Whistleblower Award

The US Securities and Exchanges Commission (SEC) has announced that it's payed out its largest-ever whistle-blower award to the tune of $114 million to an unnamed individual who provided information to the agency for investigations. The concerned individual was awarded $52 million in connection with an SEC case and another $62 million in connection with related actions to the case that were carried out by an unnamed government agency.

The $114 million award marks the largest-ever since the SEC began issuing whistle-blower awards in 2012 and is more than double the previous record of $50 million which was awarded to an individual in June this year.

As expected, the SEC protected the identity of the whistle-blower who received the large award. The case that led to the payment is also not disclosed by the SEC. 

“Today’s milestone award is a testament to the Commission’s commitment to award whistleblowers who provide the agency with high-quality information,” said SEC Chairman Jay Clayton. “Whistleblowers make important contributions to the enforcement of securities laws and we are committed to getting more money to whistleblowers as quickly and as efficiently as possible.”

Since 2012 when the whistle-blower law was set in place, the SEC has awarded roughly $676 million to 108 individuals in total. Under stipulated laws, whistle-blower awards to an individual can range from 10% to 30% of the monetary sanctions in a case where the sanctions exceed $1 million. In this case, it can be deduced that the SEC reaped a generous payment before awarding $52 million to a single individual.


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