US SEC grants whistleblowers more than $28 million

• The US SEC announced that it had given joint tipsters who provided “important information”.
• Anonymous whistleblowers’ information led to the launch of an SEC inquiry.
• The SEC’s whistleblower programme is largely regarded as a huge success.

The US Securities and Exchange Commission (SEC) announced on Tuesday that it had given joint tipsters who provided “important information” for one of the agency’s enforcement operations a whistleblower reward totaling more than $28 million.

According to the agency, the anonymous whistleblowers’ information led to the launch of a securities regulator’s inquiry and ultimately to a successful action.

The SEC withheld information on the enforcement action at issue.

The SEC’s whistleblower programme, which was established in the wake of the global financial crisis that spanned 2007–2009, is largely regarded as a huge success. As of the fiscal year that ended on September 30, 2022, it had led to orders for monetary sanctions totaling more than $6.3 billion.

Through fiscal 2022, the securities regulator has given out more than 300 awards totaling more than $1.3 billion to people in exchange for their information, the agency reported in November. In October 2020, one tipster received a $114 million prize that was the highest ever made.

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