Home Breadcrumb caret Industry News Breadcrumb caret Industry Two whistleblowers help SEC shut down ongoing fraud schemes The SEC has collectively awarded US$387 to 72 people since 2012 By James Langton | January 23, 2020 | Last updated on January 23, 2020 1 min read © Adrian Niederhaeuser / 123RF Stock Photo The U.S. Securities and Exchange Commission (SEC) has paid out financial awards to a couple of whistleblowers who helped the regulator shut down ongoing investor frauds. The SEC separately paid two tipsters for providing it with “significant information” that helped the regulator uncover two schemes that preyed on retail investors. One whistleblower received more than US$277,000 and the other was paid US$45,000. In both cases, the whistleblowers “played a crucial role” in helping the SEC protect retail investors, said Jane Norberg, chief of the SEC’s Office of the Whistleblower. “The information provided saved the SEC time and resources in conducting the investigations and assisted the SEC in returning money to harmed investors,” she added. The details of whistleblower award cases are not generally revealed in order to protect the identities of people providing information to regulators. Since 2012, when the commission issued its first award, the SEC has paid out approximately US$387 million to 72 whistleblowers. 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