SEC Issues Whistleblower Awards Totaling $2.6 Million
summary
The SEC awarded approximately $2.6 million to five whistleblowers across three enforcement proceedings for providing critical information and independent analysis.
paragraph
The SEC distributed $1.2 million to a whistleblower using a complex algorithm and over $1 million to three compliance employees for their vital assistance. A third whistleblower received more than $350,000 for identifying patterns in public data that helped prevent wrongdoing. These awards are funded by monetary sanctions paid by securities law violators through an investor protection fund.
narrative
The Securities and Exchange Commission announced approximately $2.6 million in awards to five whistleblowers involved in three separate enforcement proceedings. The largest award, totaling $1.2 million, was granted to an individual who used a complex algorithm to analyze public data, saving Commission resources. Three compliance employees received over $1 million collectively for providing information that led to a successful enforcement action. Additionally, a whistleblower was awarded more than $350,000 for using specialized expertise to identify patterns that helped prevent wrongdoing and preserve assets. These payments are sourced from an investor protection fund financed by sanctions from securities law violators, ensuring no money is taken from harmed investors. Since 2012, the SEC has distributed approximately $959 million to 203 individuals through this program.
Classified non-corporate(confidence 99%). No EDGAR filing fingerprint (criminal/DOJ-side scheme). detection rule →
Parties
acting chief of the sec's office of the whistlebloweremily pasquinellisec to protect confidentiality of whistleblowersSecurities and Exchange Commissionwhistleblower awards
Keywords
whistleblowerenforcement actionsecinformationmillionwhistleblower awardssuccessful enforcementenforcementawardsactionindependent analysiswhistleblowerscommissionwhoawarded
Exhibits & Attached Documents (3)
Extracted insights
Dollar amounts 5
- $959.00M $959 million $100M–$1B
- $2.60M $2.6 million $1M–$10M
- $1.20M $1.2 million $1M–$10M
- $1.00M $1 million $1M–$10M
- $350K $350,000 $100K–$1M
Entities 5
- agency acting chief of the sec's office of the whistleblower
- person emily pasquinelli
- agency sec to protect confidentiality of whistleblowers
- agency Securities and Exchange Commission
- person whistleblower awards
Triples 12
- SEC awarded approximately $2.6 million to five whistleblowers
- SEC awarded approximately $1.2 million to a whistleblower
- Whistleblower provided valuable independent analysis based upon a complex algorithm
- SEC awarded over $1 million to three individuals
- Three Individuals provided information and assistance that led to a successful enforcement action
- SEC awarded more than $350,000 to a whistleblower
- Whistleblower identified patterns among publicly available information
- Emily Pasquinelli is Acting Chief of the SEC's Office of the Whistleblower
- SEC awarded approximately $959 million to 203 individuals since 2012
- SEC issued first whistleblower award in 2012
- Whistleblower Awards range from 10-30% of money collected when sanctions exceed $1 million
- Dodd-Frank Act requires SEC to protect confidentiality of whistleblowers
PDF (from attached: pdf)
Text layers
Extracted body text (2,834c)
The Securities and Exchange Commission today announced awards of approximately $2.6 million to five whistleblowers who provided information and assistance in three separate enforcement proceedings. In the first order, the SEC awarded approximately $1.2 million to a whistleblower who provided valuable independent analysis based upon a complex algorithm the whistleblower developed and applied to publicly available data. The whistleblower’s information saved Commission staff time and resources and assisted the staff during settlement negotiations of an enforcement action. In the second order, the SEC awarded over $1 million to three individuals whose information and assistance led to a successful enforcement action. While the whistleblowers held compliance roles at the company, they remained eligible for an award because they submitted their information to the Commission more than 120 days after the alleged conduct had been reported internally. The first claimant, who received the highest award, provided extraordinary assistance and comprehensive information that proved vital to the success of the enforcement action. In the third order, the SEC awarded a whistleblower more than $350,000 for providing independent analysis that led to a successful enforcement action. Based on unusual effort and expertise developed over many years, the whistleblower identified patterns among publicly available information that allowed the Commission to quickly identify and prevent wrongdoing and to preserve assets. "Today's awards demonstrate the Commission's commitment to reward whistleblowers who provide valuable information, developed either from a whistleblower's independent knowledge or the whistleblower's independent analysis, which substantially contributes to a successful enforcement action," said Emily Pasquinelli, Acting Chief of the SEC's Office of the Whistleblower. The SEC has awarded approximately $959 million to 203 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 10-30% 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.
OCR text (2,834c · html-text · 99% conf)
The Securities and Exchange Commission today announced awards of approximately $2.6 million to five whistleblowers who provided information and assistance in three separate enforcement proceedings. In the first order, the SEC awarded approximately $1.2 million to a whistleblower who provided valuable independent analysis based upon a complex algorithm the whistleblower developed and applied to publicly available data. The whistleblower’s information saved Commission staff time and resources and assisted the staff during settlement negotiations of an enforcement action. In the second order, the SEC awarded over $1 million to three individuals whose information and assistance led to a successful enforcement action. While the whistleblowers held compliance roles at the company, they remained eligible for an award because they submitted their information to the Commission more than 120 days after the alleged conduct had been reported internally. The first claimant, who received the highest award, provided extraordinary assistance and comprehensive information that proved vital to the success of the enforcement action. In the third order, the SEC awarded a whistleblower more than $350,000 for providing independent analysis that led to a successful enforcement action. Based on unusual effort and expertise developed over many years, the whistleblower identified patterns among publicly available information that allowed the Commission to quickly identify and prevent wrongdoing and to preserve assets. "Today's awards demonstrate the Commission's commitment to reward whistleblowers who provide valuable information, developed either from a whistleblower's independent knowledge or the whistleblower's independent analysis, which substantially contributes to a successful enforcement action," said Emily Pasquinelli, Acting Chief of the SEC's Office of the Whistleblower. The SEC has awarded approximately $959 million to 203 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 10-30% 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.