Washington, D.C.--(Newsfile Corp. - July 15, 2022) - The Securities and Exchange Commission today announced awards totaling more than $6 million to two whistleblowers who provided critical information and assistance in two separate covered actions.

In the first order, the SEC issued an award of more than $3 million to a whistleblower who was solicited to invest in a product that they believed was being misrepresented. The individual expeditiously alerted the SEC to the potential misconduct, which prompted the opening of the investigation, and continued to cooperate with the SEC’s Enforcement staff.

In the second order, the SEC awarded a whistleblower more than $3 million for providing information that prompted the opening of an investigation. The whistleblower, an insider, initially reported their concerns internally, and later submitted a detailed tip and met with the SEC’s Enforcement staff multiple times to provide additional information during the investigation.

"When confronted with potential wrongdoing, today’s whistleblowers refused to look the other way, but instead, chose to do the right thing by reporting it to the SEC," said Creola Kelly, Chief of the SEC’s Office of the Whistleblower. "Insiders and outsiders alike can make a tremendous impact on the SEC’s ability to detect misconduct and protect investors when they decide to become whistleblowers."

The SEC has awarded approximately $1.3 billion to 276 individuals since issuing its first award in 2012. All...

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