SEC Awards Joint Whistleblowers $6 Million for Enforcement Tip

Joint whistleblowers will receive $6 million for providing new information that prompted a US Securities and Exchange Commission examination and helped lead to an enforcement action.

“Today’s award illustrates that the agency can leverage whistleblower information in various ways, including by prompting an examination,” Jonathan Carr, acting chief of the SEC’s Office of the Whistleblower, said in a statement.

In line with agency practice, the SEC didn’t identify the whistleblowers or name the firm that the the tipsters flagged to the regulator.

The SEC’s whistleblower program was created by the Dodd-Frank Act. Individuals who inform the agency of original, ...