US SEC Rewards Nearly $3 Million to Whistleblower

The US Securities and Exchange Commission (SEC) announced it has awarded around $3 million to a whistleblower who provided high-quality information and assistance that helped the agency in stopping illegal practices.

"The whistleblower alerted the SEC to previously unknown conduct and then provided substantial additional assistance, which conserved a considerable amount of SEC resources," said Emily Pasquinelli, Acting Chief of the SEC's Office of the Whistleblower.

Pasquinelli added:“We have recently given awards to a significant number of whistleblowers, like the one awarded today, who played an important role in our enforcement program's success.”

So far, the US SEC has awarded approximately $942 million to 186 individuals who had assisted them with several investigations since 2012, according to the statistics provided by the watchdog.

The agency stressed that 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.