Description

The Securities and Exchange Commission today announced an award of more than $4.1 million to a former company insider who alerted the agency toa widespread, multi-year securities law violation and continued to provide important information and assistance throughout the SECs investigation. The whistleblower is the third awarded by the SEC in the past week.

Company insiders often have valuable information that can help the SEC halt an ongoing securities law violation and better protect investors, said Jane Norberg, Chief of the SECs Office of the Whistleblower. The breadth of the SECs whistleblower program is demonstrated by this case, where the whistleblower, a foreign national working outside of the United States, affirmatively stepped forward to shine a light on the wrongdoing.

The SECs whistleblower program has now awarded more than $179 million to 50 whistleblowers since issuing its first award in 2012. 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.

Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.

By law, the SEC protects the confidentiality of whistleblowers and does not disclose information that might directly or indirectly reveal a whistleblowers identity.

For more information about the whistleblower program and how to report a tip, visit www.sec.gov/whistleblower.

Comments
Order by: 
Per page:
 
  • There are no comments yet
   Comment Record a video comment
 
 
 
     
Related Feed Entries
Despite its Olympics diplomacy towards the South, the Kim regime is still engaged in brazen cybercrime targeting its neighbor.Source: Wired - Emerging technologies News
In a Senate hearing Tuesday, the heads of the three-letter intelligence agencies detailed their greatest concerns.Source: Wired - Emerging technologies News
The Securities and Exchange Commission today announced the opening of registration for its compliance outreach programs national seminar for investment companies and investment advisers. The event is intended to help Chief Compliance Officers (CCOs) and other senior personnel at investment companies and investment advisory firms to enhance their compliance programs for the protection of investors. The SECs Office of Compliance Inspections and Examinations (OCIE), Division of Investment Manageme…
4 days ago · From Securities Exchange Commission
The Securities and Exchange Commission today announced that Alberto Arevalo, an associate director in the Office of International Affairs, will retire later this month after 28 years of public service. Mr. Arevalo joined the SEC in 2004 and has been an associate director since 2014, with responsibility for international enforcement and supervisory cooperation, and technical assistance programs. Alberto has played a direct and consequential role in key SEC enforcement cases and initiatives, sai…
4 days ago · From Securities Exchange Commission
An Apple leak, a massive cybercrime forum, and more of the week's top security news.Source: Wired - Emerging technologies News
Rate
0 votes
Info
Michael Blair
Time is your GREATEST asset
05.12.2017 (05.12.2017)
9 Views
0 Subscribers
Recommend