The Securities and Exchange Commission announced an award of over $6 million to joint whistleblowers whose information and assistance led to the successful enforcement of SEC and related actions. The whistleblowers’ substantial assistance, provided to the SEC and another government agency, included submitting documents, participating in interviews, and identifying key individuals involved in the misconduct.

“The whistleblowers’ information led to multiple successful government actions related to a complex scheme involving several individuals and tens of millions of dollars in ill-gotten gains,” said Jane Norberg, Chief of the Office of the Whistleblower. “Today’s award demonstrates the significant contributions whistleblowers make to investigations that can save the SEC and other government agencies substantial time and resources.”

The SEC has awarded approximately $728 million to 118 individuals since issuing its first award in 2012.

This includes awards to 12 individuals in the first two months of this fiscal year, totaling more than $166 million. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators. No money has been taken or withheld from harmed investors to pay whistleblower awards. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.

As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose any information that could reveal a whistleblower’s identity.

For more information about the whistleblower program and how to report a tip, visit SEC.gov/whistleblower.