Whistleblower Alert! The SEC awards more than $37 million to a Whistleblower--meaning the fine levied ranged between $123,333,333-$370,000,000 million.

The Securities and Exchange Commission (SEC) has announced a substantial award of more than $37 million to a whistleblower whose information played a crucial role in a successful enforcement action. The whistleblower provided previously unknown details, met with Enforcement staff, and identified potential witnesses and documents, significantly conserving staff time and resources.

The award was funded by an investor protection fund established by Congress, which is financed through monetary sanctions paid by securities law violators. Whistleblowers are eligible for awards when they voluntarily provide original, timely, and credible information that leads to a successful enforcement action. These awards can range from 10 to 30 percent of the monetary sanctions collected, provided they exceed $1 million.

This means the fine levied ranged between $123,333,333 - $370,000,000 million.

It would be great to know more about these actions taken, especially if any of the misdeeds called out impacted GameStop!

TLDRS:

• The SEC has awarded over $37 million to a whistleblower for crucial information in a successful enforcement action.
• The whistleblower's contributions included providing previously unknown details, meeting with Enforcement staff, and identifying potential witnesses and documents.
• This award helped significantly conserve SEC staff time and resources.
• The awarded amount suggests the total fine collected ranged between $123.3 million and $370 million.
• It would be great to know more about these actions taken, especially if any of the misdeeds called out impacted GameStop!