The SEC (US Securities and Exchange Commission) has exacting criteria for both submission of whistleblower tips and their issuance of any financial bounties, including the amounts. How SEC Whistleblower Awards Are Determined The general rule for the award amount is 10% to 30% of all monetary fines collected from the…
The SEC has released figures for recovery and returns for the Fiscal Year 2023. The press release details the record high $600 million paid to SEC whistleblowers, and the recovery of nearly $5 billion through a total of 784 enforcement actions, the second highest in history. Actions resulted in nearly…
The SEC announced an award of $279 million to an individual for substantial assistance in an enforcement action. It’s the largest award in the history of the SEC’s Whistleblower program. The previous record for an award was made in October of 2020, when a whistleblower received $114 million. While the…
The SEC announced another whistleblower bounty that paid nearly $3.5 million to four individuals. Jointly, three whistleblowers provided information to the SEC that led to the staff opening an investigation. The investigation led to a successful enforcement action by the SEC. Additionally, that information and investigation led to another agency…
The Commodities Futures Trading Commission (CFTC) recently awarded a bounty of $10 million to a whistleblower who offered original information voluntarily. The information led to the opening of an investigation and a subsequent successful enforcement action. According to the order, the individual provided the information properly via a Form TCR…
The Commodity Futures Trading Commission (CFTC) has awarded a $625,000 bounty to four whistleblowers who provided information and assistance in an investigation. A total of nine claimants submitted award applications for this enforcement action. Of that number, only four received awards. Claimants 2, 3, 4, and 6 received bounties from…
The SEC has awarded $3M to three different whistleblowers for assisting with three distinct covered actions in three separate orders. 1. In the first order, the Claims Review Staff (CRS) awarded a bounty of $1.5 million to an individual who provided original information and voluntarily gave assistance to SEC staff…
The Securities & Exchange Commission (SEC) has awarded another whistleblower bounty to someone offering information and assistance. This time, the whistleblower received an award of $1.25 million after voluntarily supplying information that resulted in a successful SEC enforcement action. Providing the SEC with valuable and original information, the individual also…
The SEC has again given an award to a whistleblower. This time it totals $3.5 million, and comes after multiple instances of support from the individual. The whistleblower’s contribution prompted SEC staff to investigate more possible securities violations. This made the investigation easier for the SEC staff, which saved them…
Most whistleblowers are keen to keep their activity concealed and private until the information becomes public. In an unusual twist, one whistleblower decided to publish a research report online detailing the fraudulent activity of a company and that of its CEO prior to notifying the SEC of the fraud. Within…