SEC Issues Nearly $6 Million in Whistleblower Awards
summary
The SEC awarded nearly $6 million to two whistleblowers for providing critical information that led to successful enforcement actions in separate proceedings.
paragraph
The SEC announced awards of over $3.5 million and over $2.4 million to two whistleblowers for their assistance in enforcement actions. The first whistleblower helped expand an investigation into a new geographic area, while the second alerted the agency to previously unknown conduct. These payments are drawn from an investor protection fund financed by sanctions from securities law violators.
narrative
The Securities and Exchange Commission announced awards totaling nearly $6 million to two whistleblowers for providing information that led to successful enforcement actions. The first whistleblower was awarded more than $3.5 million after providing information that expanded an existing investigation into a new geographic area and helped bring charges. The second whistleblower received more than $2.4 million for alerting the SEC to previously unknown conduct and assisting with documents and witness identification. These awards are part of a larger program that has distributed approximately $956 million to 195 individuals since 2012. All payments are made from an investor protection fund established by Congress and financed by monetary sanctions from law violators. The SEC continues to reward individuals who provide original, timely, and credible information regarding securities law violations.
Classified non-corporate(confidence 100%). No EDGAR filing fingerprint (criminal/DOJ-side scheme). detection rule →
Parties
acting chief of sec's office of the whistlebloweremily pasquinellisec to previously unknown conductsec to protect confidentiality of whistleblowersSecurities and Exchange Commissionvaluable new information that caused sec to expand investigationwhistleblower awards
Keywords
secwhistleblowerwhistleblower awardsmillionmillion whistleblowerinformationawardsnearly millionawarded millionwhistleblowerswhoenforcementissues nearlyinformation assistanceenforcement action
Exhibits & Attached Documents (2)
Extracted insights
Dollar amounts 5
- $956.00M $956 million $100M–$1B
- $6.00M $6 million $1M–$10M
- $3.50M $3.5 million $1M–$10M
- $2.40M $2.4 million $1M–$10M
- $1.00M $1 million $1M–$10M
Entities 7
- agency acting chief of sec's office of the whistleblower
- person emily pasquinelli
- agency sec to previously unknown conduct
- agency sec to protect confidentiality of whistleblowers
- agency Securities and Exchange Commission
- agency valuable new information that caused sec to expand investigation
- person whistleblower awards
Triples 10
- SEC awarded nearly $6 million to two whistleblowers
- SEC awarded more than $3.5 million to whistleblower
- Whistleblower reported valuable new information that caused SEC to expand investigation
- SEC awarded more than $2.4 million to whistleblower
- Whistleblower alerted SEC to previously unknown conduct
- SEC made whistleblower awards to 14 individuals in less than a month
- SEC awarded approximately $956 million to 195 individuals since 2012
- Emily Pasquinelli is Acting Chief of SEC's Office of the Whistleblower
- Whistleblower Awards can 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 (2,062c)
The Securities and Exchange Commission today announced awards of nearly $6 million to two whistleblowers who provided information and assistance in separate enforcement proceedings. In the first order, the SEC awarded more than $3.5 million to a whistleblower who reported valuable new information that caused the SEC to expand an existing investigation into a new geographic area. The whistleblower then provided supplemental information and assistance that helped the SEC bring the charges in the underlying enforcement action. In the second order, the SEC awarded more than $2.4 million to a whistleblower who alerted the SEC to previously unknown conduct, prompting the opening of the investigation, and thereafter met with SEC staff, provided documents, and identified potential witnesses. "With today's orders, the SEC has made whistleblower awards to 14 individuals in less than a month, reflecting the SEC's commitment to reward whistleblowers who provide new, critical information that leads to successful enforcement actions," said Emily Pasquinelli, Acting Chief of the SEC's Office of the Whistleblower. The SEC has awarded approximately $956 million to 195 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 (2,062c · html-text · 99% conf)
The Securities and Exchange Commission today announced awards of nearly $6 million to two whistleblowers who provided information and assistance in separate enforcement proceedings. In the first order, the SEC awarded more than $3.5 million to a whistleblower who reported valuable new information that caused the SEC to expand an existing investigation into a new geographic area. The whistleblower then provided supplemental information and assistance that helped the SEC bring the charges in the underlying enforcement action. In the second order, the SEC awarded more than $2.4 million to a whistleblower who alerted the SEC to previously unknown conduct, prompting the opening of the investigation, and thereafter met with SEC staff, provided documents, and identified potential witnesses. "With today's orders, the SEC has made whistleblower awards to 14 individuals in less than a month, reflecting the SEC's commitment to reward whistleblowers who provide new, critical information that leads to successful enforcement actions," said Emily Pasquinelli, Acting Chief of the SEC's Office of the Whistleblower. The SEC has awarded approximately $956 million to 195 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.