{"id":35855,"date":"2023-05-05T15:58:56","date_gmt":"2023-05-05T15:58:56","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/us-sec-issues-largest\/"},"modified":"2023-05-05T15:59:46","modified_gmt":"2023-05-05T15:59:46","slug":"us-sec-issues-largest","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/us-sec-issues-largest\/","title":{"rendered":"US SEC issues largest ever whistleblower award of $279 million"},"content":{"rendered":"<p>(Reuters) &#8211;     The U.S. Securities and Exchange Commission (SEC) has issued its largest ever award of nearly $279 million to a whistleblower whose information helped the regulator&#8217;s enforcement action, it said on Friday.<\/p>\n<p>The regulator did not disclose the case concerned in its statement. <\/p>\n<p>The award is more than double the $114 million that it had issued in October 2020.<\/p>\n<p>&#8220;As this award shows, there is a significant incentive for whistleblowers to come forward with accurate information about potential securities law violations,&#8221; said Gurbir Grewal, director of the SEC&#8217;s Division of Enforcement, in a statement.<\/p>\n<p>Payments to whistleblowers are made out of an investor protection fund that was established by Congress and financed entirely through monetary sanctions paid to the SEC by securities law violators. <\/p>\n<p>Awards to whistleblowers can range from 10% to 30% of the money collected when the monetary sanctions exceed $1 million. <\/p>\n<p>&#8220;The whistleblower&#8217;s sustained assistance including multiple interviews and written submissions was critical to the success of these actions,&#8221; said Creola Kelly, chief of the SEC&#8217;s Office of the Whistleblower.<\/p>\n<p \/>\n<p> (Reporting by Manya Saini in Bengaluru; Editing by Devika Syamnath)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/us-sec-issues-largest\/the-seal-of-the-u-s-securities-and-exchange-commission-sec-2\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ440KH-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ440KH-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; The U.S. Securities and Exchange Commission (SEC) has issued its largest ever award of nearly $279 million to a whistleblower whose information helped the regulator&#8217;s enforcement action, it said on Friday. The regulator did not disclose the case concerned in its statement. The award is more than double the $114 million that it [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":35856,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-35855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ440KH-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=35855"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35855\/revisions"}],"predecessor-version":[{"id":35857,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35855\/revisions\/35857"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/35856"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=35855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=35855"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=35855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}