SEC Awards $1.25 Million to Whistleblower
The SEC awarded $1.25 million to a whistleblower who provided credible information that led to a successful enforcement action, saving the agency time and resources.
The SEC awarded $1.25 million to a whistleblower whose credible, original information triggered a successful enforcement action. The whistleblower provided critical assistance by identifying witnesses, interpreting key documents, and helping focus the investigation. The award falls within the 10–30% range permitted under the Dodd-Frank Act for actions exceeding $1 million in sanctions.
The Securities and Exchange Commission (SEC) announced an award of $1.25 million to a whistleblower who provided specific and credible information that prompted SEC staff to open an investigation. The whistleblower's information led to a successful SEC covered action, saving the agency significant time and resources. The whistleblower provided extensive assistance, including identifying witnesses, explaining critical documents, and helping focus the investigation on key issues. The award was made from the Investor Protection Fund, which is financed entirely through monetary sanctions paid to the SEC by securities law violators. No harmed investors' funds were used to pay this or any whistleblower award. The SEC has awarded approximately $1.2 billion to 256 individuals since issuing its first award in 2012. The SEC emphasized its commitment to protecting whistleblower confidentiality and rewarding high-quality cooperation.
Exhibits & Attached Documents (1)
Extracted insights
- $1.20B $1.2 billion ≥$1B
- $1.25M $1.25 million $1M–$10M
- $1.00M $1 million $1M–$10M
- person creola kelly
- person critical documents
- company investor protection fund
- agency monetary sanctions paid to sec by securities law violators
- agency sec office of the whistleblower
- agency sec staff
- agency sec staff to open investigation
- agency Securities and Exchange Commission
- agency successful sec covered action
- person whistleblower awards
- SEC announced award of $1.25 Million To Whistleblower
- Whistleblower provided information that prompted SEC Staff To Open Investigation
- SEC Staff opened investigation resulting in Successful SEC Covered Action
- Whistleblower identified Witnesses
- Whistleblower explained Critical Documents
- Creola Kelly is Chief of SEC Office Of The Whistleblower
- SEC awarded approximately $1.2 Billion To 256 Individuals Since 2012
- SEC issued first award in 2012
- Investor Protection Fund financed entirely through Monetary Sanctions Paid To SEC By Securities Law Violators
- Whistleblower Awards can range from 10 To 30 Percent Of Money Collected When Sanctions Exceed $1 Million
- Dodd-Frank Act requires SEC to protect Confidentiality Of Whistleblowers
The Securities and Exchange Commission today announced an award of $1.25 million to a whistleblower who provided specific and credible information that prompted SEC staff to open an investigation that resulted in a successful SEC covered action. After alerting SEC staff to the underlying conduct, the whistleblower provided extensive assistance that saved SEC time and resources. The whistleblower identified witnesses, explained critical documents, and helped focus the investigation on key issues. "Today’s award underscores the SEC’s commitment to rewarding meritorious whistleblowers who provide valuable information that advances the agency’s enforcement efforts," said Creola Kelly, Chief of the SEC’s Office of the Whistleblower. "This whistleblower provided high-quality information and exemplary cooperation." The SEC has awarded approximately $1.2 billion to 256 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators. No money has been taken or withheld from harmed investors to pay whistleblower awards. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 to 30 percent of the money collected when the monetary sanctions exceed $1 million. As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose any information that could reveal a whistleblower’s identity. For more information about the whistleblower program and how to report a tip, visit www.sec.gov/whistleblower.
The Securities and Exchange Commission today announced an award of $1.25 million to a whistleblower who provided specific and credible information that prompted SEC staff to open an investigation that resulted in a successful SEC covered action. After alerting SEC staff to the underlying conduct, the whistleblower provided extensive assistance that saved SEC time and resources. The whistleblower identified witnesses, explained critical documents, and helped focus the investigation on key issues. "Today’s award underscores the SEC’s commitment to rewarding meritorious whistleblowers who provide valuable information that advances the agency’s enforcement efforts," said Creola Kelly, Chief of the SEC’s Office of the Whistleblower. "This whistleblower provided high-quality information and exemplary cooperation." The SEC has awarded approximately $1.2 billion to 256 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators. No money has been taken or withheld from harmed investors to pay whistleblower awards. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 to 30 percent of the money collected when the monetary sanctions exceed $1 million. As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose any information that could reveal a whistleblower’s identity. For more information about the whistleblower program and how to report a tip, visit www.sec.gov/whistleblower.