In fiscal year 2021, the SEC has already paid roughly $188 million to whistleblowers, which surpasses last year’s total dollar of payments of $175 million. Recent payouts include awards of $9.2 million and $3 million.
Jane Norberg, Chief of the SEC’s Office of the Whistleblower stated in a press release that “Since the beginning of October the Commission has awarded 28 individuals over $176 million in whistleblower awards, which already surpasses the total dollar amount awarded in the entirety of any prior fiscal year.”
The SEC has awarded over $738 million to 134 individuals since issuing its first award in 2012. Whistleblowers may be eligible for an award by providing the SEC with original, timely and valuable information that leads to a successful enforcement action. Awards range from 10 to 30 percent of the money collected when the monetary sanctions exceed $1 million.
For more information about the whistleblower program, please contact Hilder & Associates, P.C.
