The SEC Has Paid More than $500 Million to Whistleblowers
September 16, 2020
The Securities Exchange Commission has announced the latest event in its ongoing program of paying whistleblowers who alert the agency to actionable financial misconduct. The agency will award $10 million to an unnamed tipster whose “persistent efforts” exposed serious financial misconduct.
The SEC began issuing awards for such information in 2012, and has since awarded more than $520 million to 94 separate individuals. The payments come from a fund that was established by Congress and financed entirely through sanctions and fines paid to the SEC by violators.