$ 30 million to two SEC whistleblower informants
You don't need to open any positions to earn "On the stock exchange". US Securities and Exchange Commission (SEC - Securities and Exchange Commission) announced the payment of record awards for the Whistleblower program. 39 informants received $ 175 million in fees for the last fiscal year.
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Record holder with $ 27 million
The SEC announced the award of over $ 30 million in awards to two whistleblowers who provided agency guidance and led the committee's investigation. The first whistleblower warned SEC staff of a potential misdemeanor and provided a significant assistant, receiving $ 22 million as a result. A second informant provided valuable information for the investigation and received $ 7 million.
The commission also awarded four others a total of $ 5 million for providing critical information that alerted the agency to the alleged offense.
Stephanie Avakian, director of the Execution Department, commented:
“Today ends a record year for the Whistleblower program. We have made significant progress to further streamline and accelerate regulatory claims review, significantly increasing the rate at which whistleblower claims are assessed and rewarded. We are committed to the timely and effective reward of the valuable contributions of our informants. "
Jane Norberg, head of the SEC's Whistleblower Office, said:
“Last month's awards show the variety of cases and signals received from whistleblower. Whistleblowers in the last month are people from outside companies who have independently analyzed cases, international whistleblowers who have shed light on hard-to-detect behavior abroad. They were also insiders who provided key information and vital assistance that helped the Commission better protect investors and the market. In recent days, four award-winners have provided a clue that triggered the opening of another case. "
To date, the SEC has awarded a total of 2012 people since its first award in 106, totaling more than $ 562 million. The payment of the prizes is taken from an investor protection fund created by Congress. The fund itself is financed by monetary sanctions for security breaches paid to the SEC.
In order to be able to receive remuneration, the so-called whistleblower must voluntarily provide the committee with accurate information that will lead to effective enforcement of the law. The prizes range from 10% to 30% of the amount received by the SEC when the sanction imposed on an entity exceeds $ 1 million. Under the Dodd-Frank Act, the SEC must protect the whistleblower's identity and not disclose any information that could identify him.