- SEC Whistleblower Bounty Program Awards Another $7 Million
- March 27, 2017
- Law Firm: Greenberg Traurig LLP - New York Office
In late January 2017, the SEC Office of the Whistleblower announced another significant award of more than $7 million split among three whistleblowers that assisted with the SEC’s prosecution of an investment scheme. Since implementing its whistleblower program in 2011, approximately $149 million has been paid out to 41 individuals who voluntarily provided the SEC with original and useful information that led 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. The SEC has reported that enforcement actions arising from whistleblower tips have resulted in more than $935 million in financial remedies. In September 2014, the SEC announced that it had approved a $30 million award to a foreign national for help in a successful enforcement action - the largest publicly-announced award to date.