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Two Whistleblowers Get $3 Million Award From SEC for Joint Tip

June 3, 2019, 4:26 PM

A pair of whistleblowers will walk away with $3 million after their joint tip helped the SEC stop harm to retail investors, the agency said June 3.

The two whistleblowers “undertook significant and timely steps” to get their employer to redress the harm to investors, the Securities and Exchange Commission said. The agency doesn’t reveal identifying information about whistleblowers, in accordance with federal law.

“These whistleblowers showed great tenacity by repeatedly reporting internally and advocating for the firm to disclose the violative conduct and remedy the attendant investor harm,” Jane Norberg, who heads the SEC’s Office of the Whistleblower,...

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