Securities Law News

SEC Awards Whistleblower $500,000 for ‘Expeditious Reporting’

July 23, 2019, 6:29 PM

An overseas whistleblower earned a $500,000 SEC reward thanks to “expeditious reporting,” the agency said July 23.

Monetary sanctions imposed because of whistleblower tips recently reached more than $2 billion, Jane Norberg, who heads the U.S. Securities and Exchange Commission’s whistleblower office, said. The Dodd-Frank Act prohibits the agency from releasing any details—including dates and company names—that could compromise whistleblower anonymity.

More than five dozen whistleblowers have earned around $385 million total in awards since the program began in 2012, the SEC said. Federal legislation enacted in response to the 2008 financial crisis mandated the program’s creation.

Whistleblowers who...

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