SEC Alert! SEC today announced awards totaling more than $6 million to two whistleblowers who provided critical information and assistance in two separate covered actions.
Source: https://www.sec.gov/news/press-release/2022-122
In the first order, the SEC issued an award of more than $3 million to a whistleblower who was solicited to invest in a product that they believed was being misrepresented. The individual expeditiously alerted the SEC to the potential misconduct, which prompted the opening of the investigation, and continued to cooperate with the SECโs Enforcement staff.
In the second order, the SEC awarded a whistleblower more than $3 million for providing information that prompted the opening of an investigation. The whistleblower, an insider, initially reported their concerns internally, and later submitted a detailed tip and met with the SECโs Enforcement staff multiple times to provide additional information during the investigation.
