The U.S. Securities and Exchange Commission (SEC) announced an award of over $1.1 million to a whistleblower whose independent analysis led to a look at new conduct during an ongoing investigation. This whistleblower investigated publicly available materials and conducted an analysis that revealed important new insights into securities law violations.
Today’s award reflects the Commission’s commitment to award whistleblowers who provide high-quality independent analysis. Whistleblowers who devote time and effort to develop unique insights may afford the Commission important information about possible securities laws violations.”Jane Norberg, Chief of the SEC’s Office of the Whistleblower.
Whistleblowing has developed into a million-dollar business worth already. Especially in the U.S., specialized agencies have been established in the last few years that engage in the systematic acquisition, analysis, and forwarding of insider information. Their aim is to enable regulators to execute monetary sanctions against individuals and organizations that have violated securities laws and thereby harmed U.S. citizens. These agencies then share the million-dollar rewards with the whistleblowers.