The Securities and Exchange Commission awarded more than $900,000 to a whistleblower Friday whose tip led to multiple SEC enforcement actions.
The SEC’s December 9 award order (pdf) released to the public was redacted to protect the identity of the whistleblower.
On Monday last week, the SEC awarded a whistleblower about $3.5 million. Two other whistleblowers had their claims denied.
Jane Norberg, chief of the SEC’s Office of the Whistleblower, said Friday: “With the issuance of this second award in less than one week, we hope to continue to encourage individuals to submit high-quality tips that we can leverage to enforce the law and protect investors, and they can receive significant financial rewards for their valuable contributions to a case.”
The SEC has now awarded about $136 million to 37 whistleblowers.
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.”
Awards can range from 10 percent to 30 percent of the money collected in enforcement actions with sanctions of more than $1 million.
Richard L. Cassin is the publisher and editor of the FCPA Blog.