The Securities and Exchange Commission (SEC) has awarded a whistleblower more than $20m after their close work with the Commission led to a successful enforcement action.

The whistleblower met with the Enforcement Division staff multiple times, provided new information and assistance, and stayed cooperative throughout the whole investigation.  

“Whistleblowers may lead to the success of an enforcement matter by providing information that causes an investigation or examination to open or that meaningfully advances an existing investigation,” said Creola Kelly, Chief of the SEC’s Office of the Whistleblower.

$177m in 2022

Since the first whistleblowing award in 2012, the SEC has awarded more than $1.3bn to 284 individuals. This year, the regulator has awarded over $177.25m to whistleblowers in 23 successful actions.

Compared to last year, the SEC awarded whistleblowers a total of $453.5m in over 50 successful actions.

The whistleblower awards can range from 10 to 30% of the money collected when the monetary sanctions exceed $1m.