The SEC Tuesday awarded a whistleblower more than $4 million for original information that alerted the agency to a fraud.
The agency didn’t release any details about the whistleblower and redacted its award order (pdf).
By law, the SEC protects the confidentiality of whistleblowers and doesn’t disclose information that might reveal a whistleblower’s identity.
The SEC has now awarded more than $111 million to 34 whistleblowers since the whistleblower program started in 2011.
The biggest SEC whistleblower award was more than $30 million in 2014.
The agency made its second biggest award of $22 million last month.
The first FCPA-related whistleblower award was reportedly paid in May. A BHP Billiton insider collected $3.75 million for information about FCPA offenses during the 2008 Beijing Olympics, the reports said.
Whistleblower tips have helped the SEC bring successful enforcement actions “where more than $504 million was ordered in sanctions, including more than $346 million in disgorgement and interest for harmed investors,” the agency said last month.
The SEC said it received about 4,000 tips last year and more than 14,000 since the program started. Tips have come from individuals in all 50 states and the District of Columbia and 95 foreign countries.
Whistleblowers can be eligible for an award when they voluntarily provide the SEC with “unique and useful information” that leads to a successful enforcement action with recoveries of more than $1 million.
Awards can range from 10 percent to 30 percent of the money recovered.
Richard L. Cassin is the publisher and editor of the FCPA Blog. He’ll be the keynote speaker at the FCPA Blog NYC Conference 2016.