A US corporate whistleblower whose information and assistance led to a successful enforcement action won a prize of more than $1 million, the Securities and Exchange Commission (SEC) said on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 24th June, 2021) A US corporate whistleblower whose information and assistance led to a successful enforcement action won a prize of more than $1 million, the Securities and Exchange Commission (SEC) said on Thursday.
"The whistleblower's information prompted the opening of the investigation, and their continued cooperation saved significant SEC staff time and resources," Acting Chief of the SEC's Whistleblower Office Emily Pasquinelli said in a press release.
The reward of more than $1 million brings the total paid to whistleblowers to $938 million for 179 tipsters since the program issued its first award in 2012, the release said.
Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million, the release added.
The SEC protects the confidentiality of whistleblowers and does not disclose any information that could reveal a whistleblower's identity such as the name of the targeted corporation, according to the release.
