Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

SEC Awards Over $28 Million to Whistleblowers

Posted on January 12th, 2024 at 1:21 PM
SEC Awards Over $28 Million to Whistleblowers

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï 

The Securities and Exchange Commission (SEC) has granted awards totaling more than $28 million to seven individuals who played a pivotal role in a successful SEC enforcement action. All parties contributed significant and valuable information that substantially aided an SEC investigation.

Creola Kelly, Chief of the SEC's Office of the Whistleblower, emphasized these whistleblowers' crucial role in the SEC/eccleston-law-blog/sec-awards-over-28-million-to-whistleblowers/''s efforts to return millions of dollars to investors who had suffered harm. The funds awarded to whistleblowers come from an investor protection fund established by Congress, funded entirely by monetary sanctions imposed on securities law violators. Importantly, no funds are diverted from harmed investors to compensate whistleblowers.

Under the Dodd-Frank Act, the SEC safeguards the confidentiality of whistleblowers, ensuring that their identities remain undisclosed. Whistleblowers are eligible for awards when they voluntarily provide original, timely, and credible information that leads to a successful enforcement action. The awards typically range from 10 to 30 percent of the collected monetary sanctions when surpassing $1 million.

 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, whistleblower, and disciplinary matters.

Tags: eccleston, eccleston law, sec

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

 


It was really fun seeing you fight for us. You have an amazing way of thinking out of the box.


 

Beth M.

LATEST NEWS AND ARTICLES

1778171646 Law
May 7, 2026
FINRA Bars Former Raymond James Broker for Refusing Testimony in Unauthorized Trading Probe

A former registered representative with Raymond James has been barred from the securities industry after refusing to cooperate with a Financial Industry Regulatory Authority (FINRA) investigation into alleged unauthorized trading activity.

1778084309 Law
May 6, 2026
FINRA Outlines Key Rulemaking Priorities and Recent Developments in Quarterly Agenda

The Financial Industry Regulatory Authority (FINRA) recently released its Quarterly Regulatory Policy Agenda, offering a detailed view of its rulemaking priorities, pending proposals, and recently approved regulatory changes.

1778000603 Law
May 5, 2026
Commonwealth Financial Network Resolves SEC Conflict of Interest Case

Commonwealth Financial Network has agreed to pay $5 million to resolve a long-standing conflict of interest case brought by the Securities and Exchange Commission, according to reporting by ThinkAdvisor.