Over the years, the SEC program has distributed a decent amount of SEC Whistleblower Awards. As of August 2016, the SEC’s whistleblower program collected more than $453 million. The SEC awarded more than $85 million of the amount it collected to 32 whistleblowers since the program’s inception in 2011.
Although the SEC typically withholds information that would identify the whistleblower, it has provided general information about the award payments.
List of SEC Whistleblower Awards
- July 2016: $50,000. Tip led to opening of investigation.
- April 2016: Reported Amount: Over $10 million. Percentage: Unknown.
- September 2015: Reported Amount: $290,000. Percentage: Unknown. The commodities regulator provided no information about the informant or the nature of the underlying case.
- May 2014: Reported SEC Whistleblower Award Amount: $240,000. Percentage: Unknown. The commodities regulator provided no information about the whistleblower or the nature of the underlying case.
- July 26, 2016, the CFTC has issued four rewards to whistleblowers.
- May 2016: $17 million awarded to a former company employee that provided detailed information that advanced an SEC investigation. Five whistleblowers applied for an award.
- May 2016: 2 individuals awarded $450,000 for information leading to a corporate accounting investigation. The whistleblowers also provided additional assistance during the investigation.
- May 2016: $5-6 million SEC Whistleblower Award to a former company insider.
- May 2016: $3.5 million SEC Award to a current employee for information and supporting documents concerning an ongoing case.
- April 2016: $275,000 SEC whistleblower award to offset prior judgment against the SEC whistleblower.
- March 2016: Three individuals split nearly $2 million.
- January 2016: The first SEC Whistleblower Award for independent analysis by an industry expert. A subsequent news story identified the enforcement action as the first monetary penalty against a stock exchange. Reported Amount: More than $700,000.
SEC Whistleblower Awards Pre-2016
SEC Whistleblowers have received substantial rewards for reporting securities fraud since the inception of the program.
- November 2015: Former employee tipped SEC to wrongdoing at an investment firm. Reported Amount of SEC Award: $325,000. Percentage: Less than 30%.
- July 2015: Corporate insider provided information to crack a complex fraudulent scheme. Reported SEC Whistleblower Award Amount: $3 million. Percentage Unknown.
- April 2015: A trader provided information about the failure to disclose a conflict of interest at an investment manager. The trader suffered retaliation after reporting the fraud. This was the first case of SEC whistleblower protection under Rule 21F-2(b)(2). Reported Award Amount: $600,000. Percentage: 30%.
- April 2015: Compliance officer awarded $1.5 million under exception to waiting period because of imminent risk of financial harm to investors or company. Reported SEC Award Amount: $1.5 Million. Percentage Unknown.
- March 2015: Payout went to a former company officer. Reported
SEC Whistleblower Award Amount: Between $475-000 and $575,000.
- September 2014: International whistleblower received largest award to date. Reported SEC Award Amount: $30 Million SEC whistleblower award.
- August 2014: An audit & compliance professional received $300,000 after waiting the 120 days for the company to take no action on the information. Reported SEC Whistleblower Award Amount: $300,000. Percentage Unknown.
- October 2013: The SEC froze corporate funds to prevent loss to investors less than six months after receiving a whistleblower tip. Reported Amount: $14.1 Million. Percentage Unknown.
- August & September 2013: More than $25,000 to 3 whistleblowers reporting a sham hedge fund to the SEC. Ultimate SEC payout exceeded $125,000.
- August 2012: The first award was paid after the SEC collected $150,000 from the more than $1 million in sanctions. The whistleblower helped prevent additional victims from being ensnared due to the information and documents provided. Reported SEC Whistleblower Award Amount: $50,000. Percentage: 30%.
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