Two whistleblowers who notified the Securities & Exchange Commission about misconduct that occurred outside of the US were rewarded by the agency today.
The SEC announced that it has awarded $5M to these two overseas whistleblowers. Their information about the misconduct supported several allegations that led to an enforcement action.
The whistleblowers filed a joint tip that ended up with an SEC investigation into misconduct occurring abroad that violated US securities laws. The information provided by these individuals exposed misconduct that would otherwise been more difficult for the agency to uncover.
Whistleblowers from 130 countries have provided information to the SEC since its inception in 2012. US Securities violations occur from all around the world, so the SEC encourages people from outside the US from any country to submit information they believe is critical to uncovering and combating potential violations.
Whistleblowers from both the US and abroad can become eligible when they provide critical material information that leads to a successful enforcement action. These awards range from 10% to 30% of monies collected over $1M. The award money comes from monetary sanctions imposed by the SEC, not from investor funds.
As always, the SEC does not provide identifying details about the whistleblowers or their part in the investigation and subsequent enforcement action to protect their identities.
The US markets expand around the globe. The SEC may have jurisdiction of U.S. based companies that solicit international investors or non-US based companies that engage in misconduct in the United States. Our attorneys have significant experience representing investors internationally by representing them at the SEC whistleblower office or pursuing litigation or securities arbitration claims to recover the losses.
Retaining Experienced SEC Whistleblower Attorneys
Our SEC whistleblower attorneys can help you if you have information regarding securities or investment fraud, violations of the federal securities laws, market manipulation, or other misconduct. To be eligible for an SEC whistleblower award, you must provide timely, credible, and original information or analysis.
Contact us through our online form or at (800) 975-4345 for a consultation. Our attorneys work on a contingency fee basis, which means it costs nothing to hire us and we have the incentive to get you the maximum award.