Sumary of SEC whistleblower payouts top $1 billion total as securities watchdog announces near-record award:
- About $40 million of that payout was connected to an SEC case, with the remainder from related actions by another, unidentified agency.
- That total award was close to the record $114 million award issued last October by the regulator, which began paying bounties to whistleblowers in 2012.Another individual recently received a $4 million award for whistleblowing, the SEC said, bringing the tally of such payouts this year to more than $500 million.
- Those payouts, which range in value from 10% to 30% of monetary sanctions imposed by the SEC that exceed $1 million, are funded by the sanctions, not by investors who were harmed.
- “We just hit a milestone,” SEC Chairman Gary Gensler said in a tweeted video announcing the billion-dollar payout threshold had been topped.
- “Every single one of the whistleblowers has provided an important service,” Gensler said.
- “Gensler on that video encouraged would-be whistleblowers to visit the SEC’s tip website: www.
- Earlier Wednesday, during an interview with CNBC’s “Squawk on the Street,” Gensler said the SEC is dealing with a range of challenging enforcement issues even as it has up to 5% fewer staff members than five years ago.