SEC Awards More Than $4 Million to Whistleblower
summary
The SEC awarded over $4 million to a whistleblower for original information leading to a successful enforcement action.
paragraph
The SEC awarded more than $4 million to a whistleblower who provided original, timely, and credible information that led to a successful enforcement action. The whistleblower provided substantial assistance by identifying key players and supplying critical documents, qualifying for an award ranging from 10% to 30% of collected sanctions exceeding $1 million. The award is funded entirely by monetary sanctions paid by securities law violators through an investor protection fund, with no money taken from harmed investors.
narrative
The Securities and Exchange Commission announced an award of more than $4 million to a whistleblower who provided original, timely, and credible information that led to a successful enforcement action. The whistleblower provided substantial assistance by identifying key players and supplying critical documents, which prompted the opening of an investigation. This award is funded entirely by monetary sanctions paid by securities law violators through an investor protection fund, ensuring no money is taken from harmed investors. The SEC has now awarded approximately $905 million to 164 individuals since issuing its first award in 2012. Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.
Classified non-corporate(confidence 95%). No EDGAR filing fingerprint (criminal/DOJ-side scheme). detection rule →
Parties
an investor protection fundemily pasquinellientirely through monetary sanctions paid to the sec by securities law violatorskey playersno moneySecurities and Exchange Commissionsubstantial assistance by meeting with sec staffthe investor protection fundthe securities and exchange commissionwhistleblower awards
Keywords
secwhistleblowermillion whistleblowermillionawardsinformationawards millionenforcement actionmonetary sanctionswhistleblower awardssecuritiesawardwhistleblowersstaffassistance
Exhibits & Attached Documents (1)
Extracted insights
Dollar amounts 3
- $905.00M $905 million $100M–$1B
- $4.00M $4 million $1M–$10M
- $1.00M $1 million $1M–$10M
Entities 10
- company an investor protection fund
- person emily pasquinelli
- agency entirely through monetary sanctions paid to the sec by securities law violators
- person key players
- person no money
- agency Securities and Exchange Commission
- agency substantial assistance by meeting with sec staff
- company the investor protection fund
- agency the securities and exchange commission
- person whistleblower awards
Triples 12
- The Securities and Exchange Commission announced an award of more than $4 million to a whistleblower
- The whistleblower provided substantial assistance by meeting with SEC staff
- The whistleblower identified key players
- The whistleblower provided additional helpful information and documents
- Emily Pasquinelli said Whistleblowers may be uniquely positioned to provide the kind of information and assistance that can prove instrumental to the successful resolution of an enforcement action
- Emily Pasquinelli said Whistleblowers play a critical role in helping the SEC detect securities laws violations and better protect investors
- The SEC has awarded approximately $905 million to 164 individuals since issuing its first award in 2012
- The SEC has established an investor protection fund
- The investor protection fund 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 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million
PDF (from attached: pdf)
Text layers
Extracted body text (1,532c)
The Securities and Exchange Commission today announced an award of more than $4 million to a whistleblower who alerted SEC staff to certain violations, prompting the opening of an investigation. The whistleblower then provided substantial assistance by meeting with SEC staff, identifying key players, and providing additional helpful information and documents. “Whistleblowers may be uniquely positioned to provide the kind of information and assistance that can prove instrumental to the successful resolution of an enforcement action,” said Emily Pasquinelli, Acting Chief of the SEC’s Office of the Whistleblower. “Whistleblowers play a critical role in helping the SEC detect securities laws violations and better protect investors.” The SEC has now awarded approximately $905 million to 164 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 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million. For more information about the whistleblower program and how to submit a tip, visit www.sec.gov/whistleblower.
OCR text (1,532c · html-text · 99% conf)
The Securities and Exchange Commission today announced an award of more than $4 million to a whistleblower who alerted SEC staff to certain violations, prompting the opening of an investigation. The whistleblower then provided substantial assistance by meeting with SEC staff, identifying key players, and providing additional helpful information and documents. “Whistleblowers may be uniquely positioned to provide the kind of information and assistance that can prove instrumental to the successful resolution of an enforcement action,” said Emily Pasquinelli, Acting Chief of the SEC’s Office of the Whistleblower. “Whistleblowers play a critical role in helping the SEC detect securities laws violations and better protect investors.” The SEC has now awarded approximately $905 million to 164 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 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million. For more information about the whistleblower program and how to submit a tip, visit www.sec.gov/whistleblower.