The SEC announced awards totaling approximately $22 million to two whistleblowers whose information and assistance was of crucial importance to successful SEC enforcement actions brought against a financial services firm.
The first whistleblower received an award of $18 million, while the second whistleblower received a $4 million award. The larger award was in recognition of the fact that, among other things, the first whistleblower was the initial source of the investigation while the second whistleblower submitted information much later after the investigation was already underway.
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