The Securities and Exchange Commission (SEC) <a href="https://www.sec.gov/news/press-release/2022-38">announced</a> today that it is awarding more than $3.5 million to an individual who voluntarily provided the agency with critical information that was used to bring about the success of two successful enforcement actions of the SEC.

In response to the whistleblower's disclosure, the SEC staff conducted further investigations into specific suspected securities violations, saving time and resources, and assisting in the advancement of settlement negotiations.

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<h2>The Whistleblower Program</h2>
Created under the Dodd-Frank Act, the whistleblower program is supposed to encourage individuals to report violations of the Commodity Exchange Act to the SEC. It provides monetary awards to eligible whistleblowers who voluntarily report violations such as bribery or money laundering if the information provided leads to the Commission bringing an action, or if the information provided significantly contributes to the success of an enforcement action. Through the SEC Whistleblower Program, whistleblowers are entitled to a monetary reward of 10-30 percent of money recovered when the penalties that the agency imposes exceed $1 million.

Since the inception of the program in 2012, the SEC has awarded nearly $1.2 billion to 248 people. Last year, the US regulator awarded a whistleblower the largest whistleblower award in history, an amount to the tune of nearly $200 million.
<blockquote>"In fiscal year 2022 alone, the SEC has awarded more than $143 million to whistleblowers who provided high-quality information and assistance that led to the success of enforcement actions,"  

said Creola Kelly, Chief of the SEC’s Office of the Whistleblower.</blockquote>
In addition to monetary rewards, the SEC Whistleblower Program provides whistleblowers with anti-retaliation rights as well as the ability to remain anonymous by not providing any information that may be used to determine the identity of a whistleblower.

SEC Awards More Than $3.5 Million to Whistleblower

SEC Awards More Than $3.5 Million to Whistleblower who helped with information used to bring about the success of two successful enforcement actions.

Kay is a content specialist who has a particular interest in the finance and cryptocurrency industries, among others. He is a frequent contributor to a number of finance and cryptocurrency-related websites, where he offers readers with informative and educational articles on the cryptocurrency and financial markets. Aside from that, he is an avid supporter of blockchain technology.

SEC Awards More Than $3.5 Million to Whistleblower

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