The U.S. Securities and Exchange Commission (SEC) is paying a whistleblower award for a tip about foreign misconduct that generated U.S. enforcement action.
The SEC is paying US$3.6 million to a tipster that first alerted the commission to offshore misconduct, and then provided ongoing cooperation to its investigation, including traveling to another country to meet with SEC investigators.
Separately, the SEC awarded another whistleblower US$750,000 for helping to expose an ongoing fraud.
“The whistleblower assisted commission staff by meeting with them in person and explaining the likely mechanics of the fraudulent scheme,” the SEC noted in a release.