February 5, 2023

Volume XIII, Number 36

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February 03, 2023

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February 02, 2023

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SEC Announces $20 Million Award to Whistleblower

On November 28, 2022, the SEC announced an award of $20 million to a whistleblower who provided new and critical information that contributed to a successful enforcement action.  (The order granting the award can be accessed here.)  The SEC noted that in determining the appropriate award amount, it considered that the whistleblower provided significant information and continuing assistance that helped Enforcement Division staff more quickly and efficiently investigate complex issues.

Creola Kelly, Chief of the SEC’s Office of the Whistleblower noted that “[w]histleblowers can help advance existing investigations in meaningful ways when their information saves the agency time and resources, and when their contributions allow SEC staff to better understand complicated issues.”

Since issuing its first whistleblower award in 2012, the SEC has awarded more than $1.3 billion to 283 individuals.

© 2023 Proskauer Rose LLP. National Law Review, Volume XII, Number 334
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About this Author

Pinny Goldberg Labor and Employment Lawyer Proskauer Rose Law Firm
Associate

Pinny Goldberg is an associate in the Labor & Employment Law Department. Pinny represents employers in a broad array of matters before federal and state courts, FINRA and other arbitration panels, and administrative agencies, including the EEOC and its state equivalents, and in pre-litigation negotiations. Matters he works on include discrimination and harassment, wage and hour, wrongful discharge, whistleblowing and retaliation, covenants not to compete, breaches of fiduciary duty, unjust enrichment, and tort and contract claims. 

In...

212.969.3074
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