WASHINGTON (Pakistan Point News / Sputnik - 21st July, 2021) A whistleblower who reported corporate malfeasance and then aided officials pursuing a successful enforcement action won a $3 million award for the effort, the Securities and Exchange Commission (SEC) said on Wednesday.
"The whistleblower alerted the SEC to previously unknown conduct and then provided substantial additional assistance, which conserved a considerable amount of SEC resources," acting Office of the Whistleblower Chief Emily Pasquinelli said in a press release.
The $3 million brings total rewards to about $942 million for 186 individuals since the program began 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 said it withholds information that could identify the whistleblower or penalized corporations, according to the release.
