January 24, 2021

Volume XI, Number 24

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January 21, 2021

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SEC Whistleblower Receives $10 Million Award for Assisting in Investigation

Last week, the Securities and Exchange Commission (SEC) awarded an anonymous whistleblower $10 million for their efforts in prompting and assisting in an investigation.

According to a press release, the SEC whistleblower provided key evidence in more than a dozen communications with the staff. The whistleblower also helped decipher complex issues during the investigation process.

Since issuing its first whistleblower award in 2012, the SEC has awarded over $687 million to 109 individuals. In 2020, the SEC has awarded a record $175 million whistleblowers. SEC whistleblower awards are issued to individuals who provide the Commission with timely and original information of frauds that result in enforcement actions that bring $1 million or more in monetary sanctions.

Established under the Dodd Frank Act of 2010, the SEC Whistleblower Program protects the identity of whistleblower and provides full anonymity and confidentiality for whistleblowers who file for awards.

“After reporting internally and receiving no satisfactory response, the whistleblower alerted the agency to the securities violation and played a critical role during the investigation,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “Today’s award demonstrates the significant contributions that whistleblowers can make to substantially assist investigations and help the Commission save time and resources.”

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Copyright Kohn, Kohn & Colapinto, LLP 2020. All Rights Reserved.National Law Review, Volume X, Number 307
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About this Author

Mary Jane Wilmoth whistleblower protection Qui Tam/False Claims Attorney Kohn Kohn & Colapinto Law Firm
Managing Partner

Mary Jane Wilmoth is the firm’s managing partner, and works closely with the partners at KKC, specializing in environmental and nuclear whistleblower protection, Qui Tam/False Claims litigation, and labor and employment law. She joined the firm in 1992, and works on cases and hearings that involve complex nuclear and environmental regulations. In her efforts to assure such safeguards are upheld in the American workplace, she has helped to strengthen whistleblower rights in licensing and enforcement proceedings with the Nuclear Regulatory Commission. She has also defended whistleblowers at...

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