• 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

SEC Awards $30 Million to Two Whistleblowers

Geoff SchwellerbyGeoff Schweller
October 1, 2020
in Corporate, News, SEC
Reading Time: 2 mins read
Whistleblower Award
Share on TwitterShare on FacebookShare on LinkedInEmail

On September 30, the U.S. Securities and Exchange Commission (SEC) announced an approximately $30 million award granted to two whistleblowers. The whistleblowers were insiders at the company whose misconduct they reported, and their disclosures led the SEC to open an investigation.

The first whistleblower was awarded approximately $22 million for first alerting the SEC to the potential wrongdoing. The first whistleblower provided both significant information and “substantial, ongoing assistance” to the SEC. The second whistleblower received an award of approximately $7 million for providing additional valuable information.

“The information and assistance provided by today’s whistleblowers helped the agency return tens of millions of dollars to harmed retail investors,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “We hope that awards like the ones issued by the Commission today will continue to incentivize individuals to come forward and report high-quality tips to the SEC.”

Support Whistleblower Network News

Earlier this week, the SEC granted an award to its one-hundredth whistleblower. Since issuing its first award in 2012, the SEC has awarded approximately $557 million to whistleblowers. Under the Dodd-Frank Act, qualified SEC whistleblowers, individuals who voluntarily provide original information that leads to a successful enforcement action, are entitled to monetary awards of 10-30% of funds collected by the government.

Last week, during a vote on rule changes to the whistleblower program, all five of the SEC Commissioners praised the success of the program. SEC Chairman Jay Clayton stated, “the whistleblower program has been a critical component of the Commission’s efforts to detect wrongdoing and protect investors and the marketplace, particularly where fraud is well-hidden or difficult to detect.”

Read:

SEC Awards Almost $30 Million to Two Insider Whistleblowers

Tags: Corporate WhistleblowersSECWhistleblower Rewards
Previous Post

CFTC Whistleblower Receives $250,000 Award

Next Post

Whistleblower Sends Anonymous Complaint to Congress, Reveals COVID-19 Response Shortcomings

Geoff Schweller

Geoff Schweller

Geoff Schweller is the Assistant News Editor for Whistleblower Network News. He coordinates news coverage, and also writes about breaking whistleblower news, SEC whistleblowers, IRS whistleblowers, CFTC whistleblowers, and federal employee whistleblowers. Geoff graduated from Hamilton College with a degree in Sociology and minors in French & Francophone Studies and Cinema & New Media Studies.

Next Post
personal protective equipment, coronavirus equipment

Whistleblower Sends Anonymous Complaint to Congress, Reveals COVID-19 Response Shortcomings

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

U.S. and UK Advocates Come Together for Whistleblowing Awareness Week

“We want to dispel the stigma.” — Discussing the 1st Whistleblowing Awareness Week with Georgina Halford-Hall and Stephen Kohn

Tell President Biden to “Finish the Job” for Whistleblowers

Change the Culture, Make National Whistleblower Day Permanent

Senators Introduce Bipartisan Bill to Strengthen SEC Whistleblower Program

Ontario Securities Commission Highlights Success of Whistleblower Award Program

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