SEC Awards Joint Whistleblowers Over $50 Million

Posted on April 29th, 2021 at 10:43 AM
SEC Awards Joint Whistleblowers Over $50 Million

From the Desk of Jim Eccleston at Eccleston Law LLC:

The Securities and Exchange Commission (SEC) has awarded over $50 million to joint whistleblowers. The information disclosed by the whistleblowers alerted SEC staff to violations that involved highly complex transactions and would have been difficult for the SEC to detect without the whistleblower's information. 

The whistleblowers assisted the SEC during the investigation. The whistleblowers met with SEC staff numerous times and delivered ample detailed documents. The information provided by these individuals resulted in the return of tens of millions of dollars to harmed investors.  

According to Jane Norberg, Chief of the SEC's Office of the Whistleblower, the award is the second-largest in the history of the enforcement program. "The SEC has now awarded over a quarter of a billion dollars to whistleblowers in the first seven months of this fiscal year alone, demonstrating the tremendous value of whistleblowers to our enforcement program." 

The SEC has now awarded approximately $812 million to 151 individuals since its first award in 2012.  Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to successful enforcement actions. 

Eccleston Law LLC represents investors and financial advisors nationwide with Whistleblower claims. Please contact us to discuss any issues that you may have.

Tags: eccleston, eccleston law, sec, whistleblower

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