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SEC Issues Multiple Whistleblower Awards Totaling Over $3.6 Million

The Securities and Exchange Commission today announced whistleblower awards in connection with three separate enforcement actions totaling over $3.6 million. 

In the first order, where the whistleblower was represented by Sallah Astarita & Cox, LLC, the SEC awarded a whistleblower over $1.8 million for providing significant information about a fraudulent scheme. The whistleblower took immediate steps to mitigate the harm to investors, and provided substantial assistance to the staff, including providing testimony, key documents, and other information that saved SEC time and resources and contributed to an enforcement action that resulted in the return of millions of dollars to harmed investors.

In the second order, the SEC awarded a whistleblower more than $1.2 million for providing information that led to a successful enforcement action. In making the award, the SEC determined that the whistleblower’s culpability and unreasonable delay impacted the award amount.

In the third order, the SEC awarded more than $500,000 to a whistleblower who provided significant information and ongoing assistance that led to the success of an enforcement action. In issuing the award, the SEC waived the TCR filing requirement based on the unique facts and circumstances of the case.

“Today’s three awards demonstrate the SEC’s continuing commitment to making awards to individuals who provide high-quality information that assists the agency in bringing successful enforcement actions,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “These awards also show that the Commission will take into account the unique facts and circumstances of each matter, in accordance with the whistleblower rules, when determining eligibility and the amount of the award.”

Read the Full Press Release


Are you a potential whistleblower? Studies have shown that whistleblowers who are represented by experienced securities attorneys have greater success than those without. The partners at Sallah Astarita & Cox, a national securities law firm, are former SEC Staff attorneys and brokerage firm lawyers, who can guide you through the process of filing a claim with the SEC, at no cost to you unless you receive an award. Call Sallah Astarita & Cox at 212-509-6544.

The Securities Lawyer