In the Matter of the Claim for Award
A foreign national whistleblower received approximately 3.5% of monetary sanctions in an SEC enforcement action after providing original information that expanded the investigation to a new geographic region, identifying a key witness, and submitting multiple supplemental disclosures that enabled the charges.
The SEC awarded a foreign national whistleblower approximately 3.5% of the monetary sanctions collected in a covered enforcement action, though the exact dollar amount and identities of the respondents were redacted. The claimant voluntarily provided original information that prompted the SEC to expand its investigation into an additional geographic area and significantly assisted by traveling to meet staff in person, identifying a key witness, and submitting multiple supplemental disclosures. The SEC determined this cooperation was instrumental to the success of the action and awarded the maximum percentage under its whistleblower program for exceptional assistance.
The U.S. Securities and Exchange Commission (SEC) awarded a foreign national whistleblower approximately 3.5% of the monetary sanctions collected in a covered enforcement action, though the specific defendants, violations, and total dollar amount were redacted. The claimant voluntarily provided original information that prompted the SEC to expand an existing investigation into a new geographic region, significantly broadening the scope of the enforcement effort. They further aided the investigation by traveling to meet with SEC staff in person, identifying a critical witness, and submitting multiple supplemental disclosures that directly supported the development and filing of charges. The SEC’s order explicitly credited the whistleblower’s cooperation as instrumental to the success of the Covered Action. The award percentage reflects the maximum level permitted under the SEC’s whistleblower program for exceptional assistance. No details about the nature of the alleged securities law violations or the entities involved were disclosed due to redactions. The decision underscores the SEC’s commitment to rewarding substantial, on-the-ground cooperation from whistleblowers, even when they are foreign nationals operating outside the United States.
Extracted insights
- $3.50M $3.5 million $1M–$10M
- person claims review staff
- person important witness
- agency original information to sec
- agency sec enforcement staff
- agency sec staff of alleged securities laws violations
- agency Securities and Exchange Commission
- Claimant receive Whistleblower Award Of Approximately $3.5 Million
- Claimant provided Original Information To SEC
- Claimant alerted SEC Staff Of Alleged Securities Laws Violations
- Claimant identified Important Witness
- SEC Enforcement Staff expanded Existing Investigation Into Additional Geographic Area
- SEC brought Charges In Covered Action
- Claims Review Staff issued Preliminary Determination Recommending Whistleblower Award
UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 Release No. 92621 / August 10, 2021 WHISTLEBLOWER AWARD PROCEEDING File No. 2021-80 In the Matter of the Claim for Award in connection with Notice of Covered Action ORDER DETERMINING WHISTLEBLOWER AWARD CLAIMS The Claims Review Staff (“CRS”) issued a Preliminary Determination recommending that (“Claimant”) receive a whistleblower award of approximately $3.5 million, which represents percent ( %) of the monetary sanctions collected or to be collected in the above-referenced Covered Action (the “Covered Action”). The recommendation of the CRS is adopted. The record demonstrates that Claimant voluntarily provided original information to the Commission, and that this information led to the successful enforcement of the Covered Action. 1 In reaching this determination, the Commission considered that Claimant alerted Commission staff of alleged securities laws violations, prompting Enforcement staff to expand an existing investigation into an additional geographic area. Claimant, a foreign national, also provided significant assistance to Commission staff by traveling to meet in person with staff, identifying an important witness, and providing multiple supplemental submissions that assisted the Commission in bringing the charges in the Covered Action. Accordingly, it is hereby ORDERED that Claimant shall receive an award of percent ( %) of the monetary sanctions collected or to be collected in the Covered Action. By the Commission. 2 Eduardo A. Aleman Deputy Secretary
UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 Release No. 92621 / August 10, 2021 WHISTLEBLOWER AWARD PROCEEDING File No. 2021-80 In the Matter of the Claim for Award in connection with Notice of Covered Action ORDER DETERMINING WHISTLEBLOWER AWARD CLAIMS The Claims Review Staff (“CRS”) issued a Preliminary Determination recommending that (“Claimant”) receive a whistleblower award of approximately $3.5 million, which represents percent ( %) of the monetary sanctions collected or to be collected in the above-referenced Covered Action (the “Covered Action”). The recommendation of the CRS is adopted. The record demonstrates that Claimant voluntarily provided original information to the Commission, and that this information led to the successful enforcement of the Covered Action. 1 In reaching this determination, the Commission considered that Claimant alerted Commission staff of alleged securities laws violations, prompting Enforcement staff to expand an existing investigation into an additional geographic area. Claimant, a foreign national, also provided significant assistance to Commission staff by traveling to meet in person with staff, identifying an important witness, and providing multiple supplemental submissions that assisted the Commission in bringing the charges in the Covered Action. Accordingly, it is hereby ORDERED that Claimant shall receive an award of percent ( %) of the monetary sanctions collected or to be collected in the Covered Action. By the Commission. 2 Eduardo A. Aleman Deputy Secretary