Jun 5, 2020 | Archive
Latest Approximately $50 Million Whistleblower Award By SEC Is Largest Amount Awarded To One Individuals Under SEC’s Whistleblower Program – Total Awarded To Whistleblowers By SEC Now Over $500 Million
Kehoe Law Firm, P.C. is making individuals aware that on June 4, 2020, the Securities and Exchange Commission announced a nearly $50 million whistleblower award to an individual who provided detailed, firsthand observations of misconduct by a company, which resulted in a successful enforcement action that returned a significant amount of money to harmed investors. This is the largest amount ever awarded to one individual under the SEC’s whistleblower program. The next largest is a $39 million award to an individual in 2018. Two individuals also shared a nearly $50 million whistleblower award that same year.
“This award marks several milestones for the whistleblower program,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “This award is the largest individual whistleblower award announced by the SEC since the inception of the program, and brings the total awarded to whistleblowers by the SEC to over $500 million, including over $100 million in this fiscal year alone. Whistleblowers have proven to be a critical tool in the enforcement arsenal to combat fraud and protect investors.”
The SEC has awarded over $500 million to 83 individuals 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. As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose information that could reveal a whistleblower’s identity.
Source: SEC.gov
May 4, 2020 | Archive
Approximately $2 Million Awarded To SEC Whistleblower – Approximately $450 Million Awarded By The SEC In Whistleblower Awards Since 2012
Kehoe Law Firm, P.C. is making individuals aware that on May 4, 2020, the Securities and Exchange Commission announced an award of nearly $2 million to a whistleblower whose information and assistance helped the agency bring a successful enforcement action and allowed investors to recover much of their money.
The SEC has awarded approximately $450 million to 82 individuals 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.
As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose information that could reveal a whistleblower’s identity.
Source: U.S. Securities and Exchange Commission – SEC.gov
Kehoe Law Firm, P.C.
Apr 29, 2020 | Archive
SEC’s Award of $18 Million Increases Total Whistleblower Awards To More Than $448 Million, Since Its First Award In 2012
Kehoe Law Firm, P.C. is making individuals aware that the SEC announced an award of more than $18 million to a whistleblower whose significant information prompted an examination that resulted in an important enforcement action. The whistleblower repeatedly reported the problem internally before contacting the SEC.
The SEC has awarded over $448 million to 81 individuals 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.
As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose information that could reveal a whistleblower’s identity.
Source: U.S. Securities and Exchange Commission – SEC.gov
Apr 20, 2020 | Archive
Whistleblower’s Significant Information Leads To Successful Enforcement Action And $5 Million Award
Kehoe Law Firm, P.C. is making individuals aware that on April 20, 2020, the SEC announced a $5 million award to a whistleblower who provided significant information that led to a successful enforcement action. The whistleblower provided critical evidence of wrongdoing, which helped save time and resources in the SEC’s investigation, and the whistleblower suffered a unique hardship as a result of raising concerns internally.
The SEC has awarded approximately $430 million to 80 individuals 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.
As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose information that could reveal a whistleblower’s identity.
Source: U.S. Securities and Exchange Commission – SEC.gov
Apr 16, 2020 | Archive
SEC Awards $27 Million To Whistleblower – Since Issuing Its First Award In 2012, SEC Has Awarded Approximately $425 Million To 79 Individuals
Kehoe Law Firm, P.C. is making individuals aware that on April 16, 2020, the Securities and Exchange Commission announced an award of more than $27 million to a whistleblower who alerted the agency to misconduct occurring, in part, overseas. After providing the tip to the SEC, the whistleblower provided critical investigative leads that advanced the investigation and saved significant Commission resources.
“This award marks several milestones for the program,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “This is the largest whistleblower award announced by the Commission this year, and the sixth largest award overall since the inception of the program. This award also brings the total amount awarded to whistleblowers by the SEC over the $400 million mark.”
The SEC has awarded approximately $425 million to 79 individuals 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.
As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose information that could reveal a whistleblower’s identity.
Source: U.S. Securities and Exchange Commission- SEC.gov
Apr 3, 2020 | Archive
SEC Awards Approximately $2 Million to Whistleblower – SEC Has Awarded $398 Million To 78 Individuals, Since Issuing First Whistleblower Award
Kehoe Law Firm, P.C. is making individuals aware that on April 3, 2020, the SEC announced an award of approximately $2 million to a whistleblower who provided vital information and assistance that substantially contributed to an ongoing investigation. The whistleblower’s information would have been difficult for the SEC to obtain absent the tip.
The SEC has awarded over $398 million to 78 individuals 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.
As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose information that could reveal a whistleblower’s identity.
Source: SEC.gov
