SEC awards whistleblowers approximately $18 million

Orrick, Herrington & Sutcliffe LLP
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Orrick, Herrington & Sutcliffe LLP

On January 19, the SEC announced three whistleblower awards totaling approximately $18 million to claimants who provided information and assistance that led to a successful enforcement action. According to the redacted order, the first whistleblower voluntarily provided detailed and significant information that prompted the opening of an investigation into a fraudulent scheme and had a significant impact on the overall success of the enforcement action. The whistleblower’s assistance saved staff time and resources, the SEC said, adding that the second and third whistleblowers voluntarily provided timely information later in the investigation that also significantly contributed to the enforcement action’s success.

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