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ARTICLE · 26 SEPTEMBER 2016

SEC Issues Another Multi-Million Dollar Whistleblower Award

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Less than one month after issuing a $22 million award, the SEC issued another multi-million dollar whistleblower award on September 20, 2016. The SEC's most recent award exceeded $4 million

United StatesEmployment and HR
Lloyd Chinn
Lloyd Chinn
Harris Mufson
Harris Mufson
Anthony DiBenedetto
Anthony DiBenedetto
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Less than one month after issuing a $22 million award, the SEC issued another multi-million dollar whistleblower award on September 20, 2016. The SEC's most recent award exceeded $4 million.

The SEC issued its typical vague, redacted order granting the award claim. The order states that the SEC was issuing the award because the Claimant provided original information that led to successful enforcement pursuant to "Section 21F(b)(1) of the Securities Exchange Act of 1934, 15 U.S.C. § 78u-6(b)(1), and Rule 21F-3(a) thereunder, 17 C.F.R. § 240.21F-3(a)."  The greater than $4 million award constitutes between 10 to 30 percent of the monetary sanctions collected by, or to be collected by, the SEC arising from the original information provided by the whistleblower.

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