Articles Tagged with #SECwhistleblower

The Securities and Exchange Commission awarded more than $1.8 million to a whistleblower who provided critically important information assisting  an enforcement action involving overseas misconduct. TheSEC’s redacted award order (pdf) didn’t provide other details about the whistleblower or the company involved. By law, the SEC protects the confidentiality of whistleblowers and doesn’t disclose information that could reveal their identity.

The SEC said the whistleblower provided “extensive and ongoing cooperation” that included the “review of documents and the provision of sworn testimony.”“The misconduct occurred abroad, and without the whistleblower’s tip and assistance, the violations at issue would have been difficult to identify,” chief of the SEC’s Office of the Whistleblower Jane Norberg said.

The SEC said the agency has made awards to at least four “overseas” whistleblowers.

The Securities and Exchange Commission today announced an award of more than $1.8 million to a whistleblower whose information and assistance was critically important to the success of an enforcement action involving misconduct committed overseas.

After alerting the agency to the violations, the whistleblower provided extensive and ongoing cooperation during the course of the investigation, including the review of documents and the provision of sworn testimony, and continued to provide additional new information that advanced the investigation.

“The whistleblower in this matter provided stellar information and ongoing assistance that resulted in the Commission bringing a programmatically significant enforcement action,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “Moreover, the misconduct occurred abroad, and without the whistleblower’s tip and assistance, the violations at issue would have been difficult to identify.”