The U.S. Securities and Exchange Commission (SEC) recently announced whistleblower awards of more than $4 million spread among four individuals who provided information critical to a securities fraud investigation.
Here’s a quick overview of the information released by the SEC regarding these awards.
As always, the information provided by the SEC was minimal to protect the identities of the whistleblowers.
Whistleblowers are eligible to receive 10 to 30 percent of total monetary sanctions collected by the SEC when the total recovery is more than $1 million. The percentage depends on the timing and usefulness of the information provided.
Would-be whistleblowers must file a Form TCR with the SEC to have their information processed and to be eligible to receive a financial award.
For more information about the SEC’s whistleblower program and how to file a tip, contact an experienced whistleblower attorney at Kardell Law Group.