The U.S. Securities and Exchange Commission said Monday it is awarding more than $10 million to a whistleblower who provided information and assistance that “significantly contributed” to a successful SEC enforcement action.
The SEC said the whistleblower provided important documents and met twice with the SEC’s enforcement staff. It said the charges in the enforcement action “had a close nexus with the whistleblower’s allegations, which were critical to the underlying investigation.”
Whistleblower awards are paid out of an investor protection fund financed through monetary sanctions paid to the SEC by securities law violators.
The SEC protects whistleblowers’ confidentiality.