• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Regulation

Whistleblower awarded $700,000 after prompting SEC investigation

Whistleblower awarded $700,000 after prompting SEC investigation
  • Christopher Copper-Ind
  • @intlinvestment
  • 22 June 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

America's Securities and Exchange Commission (SEC) announced on Friday a whistleblower award of almost $700,000 given to a claimant whose 'prompt reporting' led the SEC to open an investigation.

The SEC whistleblower suffered "undue hardship" as a result of their activities.

Related articles

  • SEC awards almost $2m to whistleblower
  • Covid-19 effects on banking increase risk for investors: research
  • Anonymous overseas whistleblower awarded $500,000 by SEC
  • Almost half of Americans have less than $100,000 in retirement savings

According to the SEC press release, the whistleblower initially reported their concerns internally before contacting the SEC Whistleblower Office. The "significant information" this whistleblower brought to the Commission during the investigation resulted in money being returned to harmed investors.

This whistleblower stepped forward and helped the agency to protect and compensate harmed investors.”

"The SEC continues to be a flagship institution for whistleblower awards," said whistleblower attorney Stephen M. Kohn, partner at the law firm Kohn, Kohn and Colapinto. "Under the Dodd-Frank Act, SEC and CFTC whistleblowers can file anonymous claims without risking retaliation and earn rewards along the way."

Under the SEC Whistleblower Program, securities fraud whistleblowers who report crimes that result in enforcement actions of $1m or more can become eligible for whistleblower awards ranging from 10-30% of the sanctions obtained.

"Because of the whistleblower's actions, the agency was able to identify the misconduct and conserve time and resources during the investigation," said Jane Norberg, chief of the SEC's Office of the Whistleblower. "This whistleblower stepped forward and helped the agency to protect and compensate harmed investors."

SEC whistleblowers have now been awarded almost $501m since the programme's inception in 2012. 

Subscribe to International Investment's free, twice-daily, newsletter

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Regulation
  • America
  • Securities and Exchange Commission
  • SEC
  • SEC Whistleblower Office
  • Stephen M. Kohn
  • Kohn
  • Dodd-Frank Act

More on Regulation

EC issues January deadline to EU regulators for shake-up of PRIIPs rules: reports

  • Regulation
  • 25 January 2021
FSCS warns industry of £1bn compensation bill

  • Regulation
  • 22 January 2021
Malaysia's Labuan IBFC partners with RAM Ratings agency

  • Regulation
  • 22 January 2021
Dubai regulator to develop cryptocurrency framework

  • Regulation
  • 21 January 2021
Singapore sets out new banking rules to mitigate cyber risks

  • Regulation
  • 18 January 2021
Back to Top

Most read

More than 250,000 expats left Saudi Arabia in 3Q2020
More than 250,000 expats left Saudi Arabia in 3Q2020
FSCS warns industry of £1bn compensation bill
FSCS warns industry of £1bn compensation bill
Comment: Are cryptocurrencies the new gold?
Comment: Are cryptocurrencies the new gold?
Dubai regulator to develop cryptocurrency framework
Dubai regulator to develop cryptocurrency framework
Jersey Finance partners with Durrell trust to launch global rewilding fund
Jersey Finance partners with Durrell trust to launch global rewilding fund
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading