Home Breadcrumb caret Industry News Breadcrumb caret Industry SEC awards $260,000 to whistleblowers Three victims of fraud notified SEC of scheme targeting retail investors By James Langton | November 15, 2019 | Last updated on November 15, 2019 1 min read © Adrian Niederhaeuser / 123RF Stock Photo Victims of a securities fraud have been granted a whistleblower award for reporting the misconduct to U.S. regulators. The U.S. Securities and Exchange Commission (SEC) announced today that three investors who jointly tipped off the SEC to a “well-concealed fraud targeting retail investors” that resulted in a successful enforcement action will share a whistleblower award. “The whistleblowers, who were themselves harmed investors, will collectively receive a payment of over US$260,000 based on current collections,” the SEC said. “Because of the whistleblowers’ information and assistance early in the investigation, the SEC had strong evidence about a fraudulent scheme operated by recidivist violators,” said Jane Norberg, chief of the SEC’s Office of the Whistleblower. The SEC reports that it has now awarded approximately US$387 million to 70 whistleblowers since issuing its first award in 2012. James Langton James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994. Save Stroke 1 Print Group 8 Share LI logo