The US SEC issues a whistleblower payout of $ 50 million
© Reuters. FILE PHOTO: Seal of the US Securities and Exchange Commission
WASHINGTON (Reuters) – The US Securities and Exchange Commission announced Thursday that it had awarded its second-largest whistleblower prize in history, giving out more than $ 50 million to two tipsters.
The SEC award is the second largest in the history of the agency’s whistleblower program. “This reflects the tremendous contribution these joint whistleblowers have made to our ability to reclaim funds for aggrieved investors,” said Jane Norberg, the agency’s outgoing director of whistleblowers.
The agency did not disclose the investigation into the whistleblower price on Thursday, but said it “involved highly complex transactions and would have been difficult to detect without their information.”
The SEC’s whistleblower program, which the SEC has labeled “critical,” was established after the 2007-2009 global financial crisis and has fined more than $ 2.5 billion through fiscal 2020. The agency has provided $ 812 million to 151 people since 2012. The SEC statement says.
In October, the SEC gave a tipster a record $ 114 million and in June gave another whistleblower nearly $ 50 million.
The last award went to two whistleblowers, while a third was rejected, according to an agency.
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