SEC Awarded Two Anonymous Whistleblowers over USD 50 Million

Bonuses of over USD 50 million have been bestowed upon two anonymous individuals by the U.S. Securities and Exchange Commission (SEC) recently for their disclosure of detailed and highly valuable information conducive to enforcement actions.

SEC noted that these two people reported the wrongdoing, associated with the highly sophisticated trading, that has caused investors millions of losses.

SEC thought highly of the close cooperation between whistleblowers and the agencys staff, indicating that a targeted crackdown would be impossible without their tips.

Jane Norberg, Chief of the SEC Office of the Whistleblower, said that these informants have made substantial contributions to recovering funds of harmed investors, for which they have been commended with bonuses above-mentioned.

SEC has made bonus payments as an incentive for whistleblowers to report the information of financial wrongdoing internally since 2012, including around USD 812 million awarded to 151 individuals. SEC has announced over USD 250 million in whistleblower awards just in the first seven months of the current fiscal year. “Today‘s award demonstrates the Commission’s commitment to awarding individuals who provide high quality independent analysis that leads to successful enforcement actions,” added Norberg.

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