A successful SEC enforcement action has been carried out from information and assistance provided by a whistleblower, who was subsequently awarded over $5m.
The whistleblower provided a tip and additional information to the SEC, which helped the Commission to structure the investigative strategy, identify witnesses, and to draft document and information requests.
Before submitting the information to the SEC, the whistleblower also reported the concerns internally.
“The whistleblower in this case provided helpful information and substantial ongoing assistance, saving the SEC time and resources during its investigation,” said Creola Kelly, Chief of the SEC’s Office of the Whistleblower.
The SEC awarded whistleblowers over $214m in 2022, which we reported earlier.