• Qui Tam
  • SEC
  • CFTC
  • FCPA
  • Whistleblower Resources
  • FAQS
Subscribe
Donate
No Result
View All Result
Whistleblower Network News
The Truth at Any Cost.
Qui Tam, Compliance and Anti-Corruption News.
SIGN THE PETITION FOR NATIONAL WHISTLEBLOWER DAY IN 2023
Whistleblower Network News
  • Qui Tam
  • SEC
  • CFTC
  • FCPA
  • Whistleblower Resources
  • FAQS
Subscribe
Donate
No Result
View All Result
Whistleblower Network News
No Result
View All Result
Home Corporate Dodd-Frank

Whistleblower Receives Over $1.25 Million SEC Whistleblower Award

Ana PopovichbyAna Popovich
September 2, 2020
in Dodd-Frank, News
Reading Time: 2 mins read
SEC Says Employees Protected For Internal Whistleblowing

U.S. Securities and Exchange Commission building in Washington, D.C. September 4, 2014. Photo by Diego M. Radzinschi/THE NATIONAL LAW JOURNAL.

Share on TwitterShare on FacebookShare on LinkedInEmail

On August 31, the Securities and Exchange Commission (SEC) announced a whistleblower award of over $1.25 million. According to the SEC’s press release, the whistleblower provided “significant information” that “prompted the agency to initiate a cause examination and bring an enforcement action that resulted in the return of millions of dollars to harmed investors.”

The SEC’s Order Determining Whistleblower Award Claim states that the whistleblower did not contest the Claims Review Staff’s initial recommendation for the award amount. The Commission then adjusted the award amount “after considering the administrative record” and decided that the whistleblower in the case should be awarded over $1,250,000 for the “original information” provided, which “led to the successful enforcement of the Covered Action.” The SEC concluded that the final award total was “appropriate” because of the speed with which the whistleblower “alerted Commission staff to the potential wrongdoing” as well as the successful outcome of the enforcement action.

“The whistleblower’s expeditious reporting alerted the agency to previously unknown securities violations,” said Chief of the SEC’s Office of the Whistleblower Jane Norberg. “This whistleblower’s vigilance and prompt reporting helped the agency move quickly to protect investors, resulting in the return of millions of dollars to harmed investors.”

Support Whistleblower Network News

Through the SEC Whistleblower Program, individuals, who willingly provide original information that leads to a successful enforcement action, are entitled to a monetary award ranging from 10 to 30% of funds the government recovers, “when the monetary sanctions exceed $1 million.”

Since the first SEC whistleblower award in 2012, 90 individuals have been awarded over $507 million from the SEC Office of the Whistleblower. SEC whistleblower awards are financed entirely through monetary sanctions paid to the SEC by securities law violators, and no money is withheld from harmed investors to pay whistleblower awards. Additionally, the 2010 Dodd-Frank Act requires that the SEC preserve whistleblowers’ confidentiality.

Read the SEC press release.

Read the SEC Order Determining Whistleblower Award Claim.

Tags: Dodd-Frank ActSEC Whistleblower rewards
Previous Post

SEC Cancels Vote on Proposed Changes to Whistleblower Program

Next Post

International Anti-Corruption and Whistleblower Protection Webinar Announced

Ana Popovich

Ana Popovich

Ana Popovich is a contributing editor with Whistleblower Network News, where she writes about breaking whistleblower news, healthcare fraud whistleblowers, and Covid-19 fraud whistleblowers. Ana has a B.A. in English from Georgetown University. While at Georgetown, she was the marketing chair of an affinity group and wrote content for the McDonough School of Business’ Business for Impact program. In 2018, Popovich was a public interest legal intern at the whistleblower law firm Kohn, Kohn and Colapinto. 

Next Post
International Anti-Corruption and Whistleblower Protection Webinar Announced

International Anti-Corruption and Whistleblower Protection Webinar Announced

Please login to join discussion

Receive Daily Alerts

Subscribe to receive daily breaking news and legislative developments sent to your inbox.

  • This field is for validation purposes and should be left unchanged.

Most Popular

Change the Culture, Make National Whistleblower Day Permanent

Tell President Biden to “Finish the Job” for Whistleblowers

Whistleblower Advocates See Parallels to Enron in Silicon Valley Bank Collapse

Whistleblower Jóhannes Stefánsson Plans to Testify at Fishrot Trial in Namibia

WNN Exclusive Interview with Social Security Whistleblowers Sarah Carver and Jennifer Griffith — Part 1

Whistleblower Raised Concerns of Rodents, Spiders in Kitchen of Childcare Facility, Then Fired; OSHA Rules They Were Retaliated Against

Whistleblower Poll

Whistleblower Poll
Whistleblower Poll

Exclusive Marist Poll: Overwhelming Public Support Among Likely Voters For Increased Whistleblower Protections

byGeoff Schweller
October 6, 2020

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

STAY INFORMED.
Subscribe to receive breaking whistleblower updates.

  • This field is for validation purposes and should be left unchanged.

About Us

  • About
  • Contact Us
  • Donate
  • Careers

Subscribe

  • Daily Mail
  • Follow us on Twitter
  • YouTube Channel

Contribute

  • Letter to the Editor
  • Submission Guidelines
  • Reprint Guidelines

Your Experience

  • Accessibility Statement
  • Privacy Policy
  • Terms of Use

Help

  • The Whistleblowers Handbook
  • Frequently Asked Questions
  • Advertise
Whistleblower Network News

Whistleblower Network News is an independent online newspaper providing our readers with up-to-date information on whistleblowing. Our goal is to be the best source of information on important qui tam, anti-corruption, compliance, and whistleblower law developments. 

Submit an Article

Copyright © 2021, Whistleblower Network News. All Rights Reserved.

This Newspaper/Web Site is made available by the publisher for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this website, you understand that there is no attorney-client relationship between you and the Newspaper/Web Site publisher. The Newspaper/Web Site should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

SIGN THE PETITION FOR NATIONAL WHISTLEBLOWER DAY IN 2023
No Result
View All Result
  • Exclusives
  • Government
    • False Claims-Qui Tam
    • Federal Employees
    • Intelligence
  • Corporate
    • CFTC & Commodities
    • Dodd-Frank
    • IRS & Tax
    • SEC & Securities
  • Features
  • Legislation
  • International
    • Foreign Corruption
  • Rewards
  • Whistleblower of the Week
  • Environment & Climate
  • Opinion
  • Editorial
  • Employment
    • Sarbanes-Oxley Whistleblowers
    • Retaliation
    • OSHA
  • Media
    • Podcasts
    • Videos
    • Webinars
    • National Whistleblower Day
  • Whistleblower Poll
  • Whistleblower Resources
    • Frequently Asked Questions
    • Resources for Locating An Attorney
    • The New Whistleblowers Handbook
  • National Whistleblower Day ’23

Copyright © 2020, Whistleblower Network News. All Rights Reserved.

Become a Whistleblower Network News Subscriber

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Subscribe to WNN

Retrieve your password

Please enter your username or email address to reset your password.

Subscribe to WNN

Add New Playlist

Go to mobile version