Securities and Exchange Commission awards more than $5.5 million to whistleblower

The Securities and Exchange Commission announced that it had awarded more than $5.5 million to a whistleblower.

According to the SEC, the whistleblower directly reported critical information to the commission about an ongoing scheme at their workplace, and that led to a successful enforcement action that ended the scheme.

SEC enforcement actions from whistleblower tips have resulted in more than $904 million in financial remedies. The whistleblower program has now awarded approximately $142 million to 38 whistleblowers since issuing its first award in 2012.

Jeffrey Newman represents whistleblowers.