SEC Awards $37M To Whistleblowers To Close Record Year

Law360 (October 1, 2020, 6:24 PM EDT) -- The U.S. Securities and Exchange Commission announced nearly $37 million in whistleblower awards this week to cap a record fiscal year during which the agency said it awarded approximately $175 million to 39 individuals.

Among the recent awards, the commission said Wednesday it paid nearly $30 million to two insider whistleblowers whose tips led SEC staff to open an investigation, in addition to announcing a $5 million payout to four separate individuals that same day.

"Today marks the end of a record-setting year for the whistleblower program," said Stephanie Avakian, director of the division of enforcement, in a statement Wednesday. "We...

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