A whistleblower who touched off an internal investigation is still collecting a large financial payout from the U.S. Securities and Exchange Commission (SEC).
The regulator awarded over US$28 million to a whistleblower who reported misconduct internally, prompting a company investigation, while also saving time and resources for SEC staff by providing testimony and identifying a key witness.
“In the past month alone, the commission has awarded four whistleblowers over US$150 million for their important contributions to the commission’s efforts to detect wrongdoing and protect investors and the marketplace,” said Jane Norberg, chief of the SEC’s Office of the Whistleblower.
With these latest payouts, the SEC has awarded approximately US$715 million to 110 tipsters since issuing its first whistleblower award in 2012.
“I hope our recent awards will continue to incentivize whistleblowers to come forward to report potential fraud or other wrongdoing,” Norberg said.