(Bloomberg) -- Joint whistleblowers will receive $6 million for providing new information that prompted a US Securities and Exchange Commission examination and helped lead to an enforcement action.
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“Today’s award illustrates that the agency can leverage whistleblower information in various ways, including by prompting an examination,” Jonathan Carr, acting chief of the SEC’s Office of the Whistleblower, said in a statement.
In line with agency practice, the SEC didn’t identify the whistleblowers or name the firm that the the tipsters flagged to the regulator.
The SEC’s whistleblower program was created by the Dodd-Frank Act. Individuals who inform the agency of original, timely and credible information that leads to enforcement actions may be eligible for awards. Awards can range from 10 to 30 percent of money collected when monetary sanctions exceed $1 million.
The agency awarded more than $255 million to whistleblowers in fiscal 2024, according to the SEC.
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