SEC And CFTC Each Announce Whistleblower Awards

The SEC and the CFTC each awarded almost $2 million to whistleblowers for providing information that helped the agencies bring successful enforcement actions.

The SEC awarded a whistleblower almost $2 million for providing new information that SEC staff was not aware of concerning ongoing fraud. Although the whistleblower did not submit the tip that led to the opening of the investigation, the whistleblower provided information that caused the SEC to seek a temporary restraining order and freeze assets to prevent additional investors losses and helped investors to recover much of their investments. Additionally, the SEC noted that the whistleblower provided ongoing assistance and suffered hardships as a result of the disclosure of the information.