On August 25, the U.S. Securities and Exchange Commission (SEC) announced an $18 million whistleblower award. The agency granted the award to an individual who voluntarily provided the agency with original information that opened an investigation and contributed to the success of an enforcement action.
“Whistleblowers continue to play an essential role in assisting the agency in detecting misconduct and bringing securities law violators to justice,” said Creola Kelly, Chief of the SEC’s Office of the Whistleblower. “Today’s whistleblower refused to turn a blind eye to the wrongdoing, reporting misconduct internally and then to the Commission.”
Through the SEC Whistleblower Program, qualified whistleblowers are entitled to awards of 10-30% of the sanctions collected by the SEC in the case connected to their whistleblowing. To qualify for an award, an individual must voluntarily disclose original information to the SEC that contributes to the success of an enforcement action.
In the case of a whistleblower who reports internally first, as is the case here, whistleblowers have 120 days to file a TCR with the SEC in order to remain eligible for an award. In this order, a second whistleblower was denied a reward because they failed to file a TCR within the 120 day window of internal reporting, and they failed to meet the other award criteria.
The award order outlines the factors the SEC weighed in determining the exact percentage to award the whistleblower. The successful...
Pakistan on April 22, Thursday urged the United Nations to call upon India to restore full implementation of the Indus Waters Treaty (IWT), warning that New Delhi’s “illegal” decision to hold the ...