NEW YORK (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Tuesday said it has awarded a whistleblower payout of greater than $28 million to joint tipsters who shared “critical information” for certainly one of the agency’s enforcement actions.
The whistleblowers, who weren’t identified, provided information that prompted the opening of an SEC investigation and ultimately to a successful motion, the agency said.
The SEC didn’t disclose which enforcement motion was involved.
Created after the 2007-2009 global financial crisis, the SEC’s whistleblower program is widely considered a serious success, having resulted in orders for greater than $6.3 billion in total monetary sanctions as of the 2022 fiscal yr that ended Sept. 30.
The SEC has paid greater than $1.3 billion in over 300 awards to individuals for his or her information through fiscal 2022, the agency said in November. Its largest-ever payout of $114 million went to a single tipster in October 2020.
(Reporting by Chris Prentice; Editing by Paul Simao)
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