• 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 SEC

Whistleblower Receives Over $2 Million SEC Award

Ana PopovichbyAna Popovich
October 30, 2021
in SEC
Reading Time: 3 mins read
U.S. Securities and Exchange Commission building
Share on TwitterShare on FacebookShare on LinkedInEmail

On October 29, a whistleblower received more than $2 million for their disclosures which led to successful enforcement actions by both the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ).

According to the award order, the whistleblower, or “Claimant,” previously received an award in connection to the SEC Covered Action. The new $2 million award is based upon a percentage of the sanctions that have been or will be collected in the DOJ’s Related Action, though the notice does not divulge the value of the percentage.

“The record demonstrates that Claimant voluntarily provided the same original information to the DOJ and the Commission, and that information led to the successful enforcement of the Related Action,” the award order states.

Support Whistleblower Network News

Additionally, the award order reports that the whistleblower “provided information that prompted the opening of the DOJ and SEC investigations” and “provided extensive, ongoing assistance in the investigations.”

The whistleblower qualified for this award due to amendments to the SEC’s whistleblower program passed in September of 2020. The amendments clarified “the types of actions that may be considered ‘related’ under the whistleblower rules” — the amendments applied to this whistleblower’s case and awards because their disclosures led to enforcement actions at two different agencies.

Through the SEC Whistleblower Program, qualified whistleblowers are entitled to a monetary award of 10-30% of funds recovered by the government when the sanctions that the government recovers exceed $1 million. The SEC Whistleblower Program also offers anti-retaliation protections to whistleblowers. One such protection is confidentiality; thus, the SEC does not disclose any identifying information about award recipients.

“The SEC’s whistleblower rule amendments make clear that non-prosecution and deferred prosecution agreements entered into by the DOJ are related actions upon which whistleblowers may receive awards,” said Emily Pasquinelli, Acting Chief of the SEC’s Office of the Whistleblower, in the press release announcing the award. “Today’s award demonstrates the SEC’s commitment to award whistleblowers not only for their contributions to a successful SEC enforcement action but also for their contributions to qualifying related actions,” she continued.

According to the press release, since issuing its first whistleblower award in 2012, “[t]he SEC has awarded approximately $1.1 billion to 224 individuals.” Whistleblower awards are paid out of “an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators,” the press release states.

Read the award order here.

Read the SEC press release here.

Read more SEC news on WNN.

Tags: Corporate WhistleblowersSECWhistleblower Rewards
Previous Post

Duct Cleaning Company To Pay $30,000 To Settle Allegations of PPP Loan Fraud; Whistleblower To Receive Award 

Next Post

Senate’s Delay on MSPB Nominations is Inexcusable

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
MSPB Senate

Senate’s Delay on MSPB Nominations is Inexcusable

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

WNN Exclusive Interview with Social Security Whistleblowers Sarah Carver and Jennifer Griffith — Part 2

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 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