US SEC awards whistleblowers more than $6m, total payments top $1.3bn

The United States Securities and Exchange Commission (SEC) has announced awards of more than $6m to two whistleblowers who provided critical information and assistance in two separate covered actions. In one action, the SEC issued an award of more than $3m to a whistleblower who was solicited to invest in a product that they believed was being misrepresented. The individual alerted the SEC to the potential misconduct, which prompted the opening of the investigation, and continued to cooperate with the SEC's enforcement staff. In the other, the SEC awarded a whistleblower more than $3m...