October 30, 2020 - Posts

SEC Paid Whistleblower A Record $114 Million

The Securities and Exchange Commission (SEC) announced a staggering award of over $114 million to an anonymous whistleblower whose information and assistance led to the successful enforcement of SEC and related actions. The whistleblower initially reported the wrongdoing internally, to no avail. At that point, the whistleblower tipped off the SEC. “I hope this record-breaking award encourages others with information about possible securities laws violations to step forward,” Jane Norberg, head of the SEC’s whistleblower office, told CNN Business in an exclusive interview.

 

This award more than doubles the prior SEC whistleblower record, which was set just four months ago. It’s been a record year for whistleblowers – the SEC handed out 39 individual whistleblower awards totaling $175 million during the fiscal year that ended in September. That’s more than in any year since the agency’s whistleblower office launched in 2011.¬† And the SEC received a record number of tips last year about potential wrongdoing.

 

To read the full story from CNN Business, click here.

 

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