On April 15, 2021, the SEC announced payment of more than $50 million to joint whistleblowers who provided the SEC with information that resulted in the return of tens of millions of dollars to harmed investors.
Jane Norberg, Chief of the SEC's Office of the Whistleblower, noted that "this award is the second largest in the history of the SEC's whistleblower program" (following only the record-breaking $114 million award announced in October 2020), and reflects "the tremendous contribution of these joint whistleblowers to our ability to recover funds for harmed investors."
Since the inception of the whistleblower program in 2011, the SEC has awarded approximately $812 million to 151 individuals, including over a quarter of a billion dollars in the first seven months of this fiscal year alone. The order granting the award can be accessed here.
SEC Awards Joint Whistleblowers More Than $50 Million
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.