The Securities and Exchange Commission said Monday it awarded about $6 million to joint whistleblowers who provided information that led to an investigation and provided a road map for an “enforcement action.”
“Today’s award illustrates that the agency can leverage whistleblower information in various ways, including by prompting an examination,” Jonathan Carr, acting chief of the SEC’s Office of the Whistleblower, said in a news release. “If that examination ultimately results in an enforcement action, the whistleblower may be eligible for an award.”
Under guidelines of the SEC’s whistleblower program, created by Congress in 2010 through the Dodd-Frank Wall Street Reform and Consumer Protection Act, the agency said it “protects the confidentiality of whistleblowers and does not disclose any information that could reveal a whistleblower’s identity.” Likewise, the agency didn’t name the target of its investigation.
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