The US Securities and Exchange Commission (SEC) has awarded over $10 million to a new whistleblower whose information helped in the recovery of “a significant amount” of harmed investors’ money.

The new award, which was announced on Monday, comes two months after the securities market regulator announced some amendments to its whistleblower programme.

SEC said the whistleblower’s information and assistance contributed to the success of an enforcement action it executed.

“The whistleblower provided important documents and met twice with Enforcement staff. The charges in the covered action had a close nexus with the whistleblower’s allegations, which were critical to the underlying investigation,” the SEC said.

The markets supervisor noted that awards given to whistleblower stand between 10 to 30% of the recovered funds when they exceed $1 million.

Recent Awards

The new monetary reward is one of several awards the SEC has issued this year.

As of July, the regulator said it had awarded approximately $1.3 billion to 278 people since its started the initiative in 2012.

In July alone, the watchdog awarded over $6 million to two whistleblowers and more than $17 million to another whistleblower.

In both cases, the whistleblowers provided critical information and assistance during the course of the regulator’...

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