SEC Awards $1.25 Million to Whistleblower

Washington, D.C.--(Newsfile Corp. - March 25, 2022) - The Securities and Exchange Commission today announced an award of $1.25 million to a whistleblower who provided specific and credible information that prompted SEC staff to open an investigation that resulted in a successful SEC covered action.

After alerting SEC staff to the underlying conduct, the whistleblower provided extensive assistance that saved SEC time and resources. The whistleblower identified witnesses, explained critical documents, and helped focus the investigation on key issues.

"Todays award underscores the SECs commitment to rewarding meritorious whistleblowers who provide valuable information that advances the agencys enforcement efforts," said Creola Kelly, Chief of the SECs Office of the Whistleblower. "This whistleblower provided high-quality information and exemplary cooperation."

The SEC has awarded approximately $1.2 billion to 256 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators. No money has been taken or withheld from harmed investors to pay whistleblower awards. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 to 30 percent of the money collected when the monetary sanctions exceed $1 million.

As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose any information that could reveal a whistleblowers identity.

For more information about the whistleblower program and how to report a tip, visit www.sec.gov/whistleblower.

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