Tipster rewarded with US$7M

By James Langton | February 28, 2020 | Last updated on February 28, 2020
1 min read

A tenacious whistleblower is receiving a multi-million dollar payout from the U.S. Securities and Exchange Commission (SEC) for providing the regulator with extensive help in an enforcement case.

The SEC is paying more than US$7 million to a tipster who “provided extensive and sustained assistance, such as identifying witnesses,” which helped the regulator succeed in its enforcement action.

The specific details of whistleblower cases are not revealed, in order to protect the identity of tipsters.

“The whistleblower showed great tenacity and effort in attempting to expose the misconduct that was the basis for the SEC’s action,” said Jane Norberg, chief of the SEC’s Office of the Whistleblower, in a statement.

“The whistleblower’s information and assistance helped the SEC staff devise an investigative plan, craft document requests, and ultimately bring an important enforcement action focusing on serious financial abuses,” Norberg noted.

To date, the SEC has awarded approximately US$394 million to 73 individuals since its paid whistleblower program first handed out an award in 2012.

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James Langton

James is a senior reporter for and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.