Whistleblower Awards of $50M, $33M Set New Records at SEC

Photographer: Andrew Harrer/Bloomberg

Two whistleblowers will share a $50 million award from the SEC and a third will receive a $33 million award, breaking the previous record of $30 million awarded in 2014.

The Securities and Exchange Commission March 19 announced the new record, which brings the total awarded through its whistleblower program to over $262 million since 2012. The awards are the first handed down in 2018.

“We hope that these awards encourage others with specific, high-quality information regarding securities laws violations to step forward and report it to the SEC,” Jane Norberg, chief of the SEC Office of the Whistleblower, said in a statement.

The new awards come after a February U.S. Supreme Court decision limiting Dodd-Frank Act retaliation protections to whistleblowers who report to the agency, not just internal compliance programs.