On November 22, the U.S. Securities and Exchange Commission (SEC) issued whistleblower awards totaling approximately $10.4 million in connection with three separate enforcement actions. The awarded whistleblowers each provided the SEC with original information that contributed to the success of an enforcement action.
In the first of the award orders, the SEC awarded $6.2 million to one whistleblower and $1.3 to a second. The award order notes that both whistleblowers “provided new information during an existing investigation, alerting Commission staff to alleged (Redacted) schemes occurring in different geographic areas.” However, the first whistleblower’s information “was more significant as Commission staff was able to corroborate all of [the whistleblower’s] information and the majority of the relief ordered in the case was based on the conduct alleged by [the whistleblower].” Part of the $6.2 million awarded to the first whistleblower came from a Related Action award because their disclosure to the SEC aided in the success of a related enforcement action by another agency.
In the second award order, the SEC awarded more than $2.4 million to two whistleblowers. The first whistleblower’s disclosure caused the SEC to open an investigation and the whistleblower “provided significant assistance to Commission staff during the investigation by providing documents and making himself/herself available for interviews,” according to the award order. The second whistleblower...
KUALA LUMPUR: Two senior officers from the Survey and Mapping Malaysia Department (Jupem) are expected to be charged over allegations of abuse of power next week, says Tan Sri Azam Baki. The duo we...