The SEC appointed Jane A. Norberg as Deputy Chief of the Office of the Whistleblower, which oversees the SEC’s whistleblower program. Under that program established by Dodd-Frank, individuals can receive awards if, among other things, they voluntarily provide the SEC with original information that leads to successful SEC enforcement actions.
Under the SEC’s whistleblower program, the SEC is authorized to pay 10% to 30% of money collected from enforcement actions involving a whistleblower whose information led to the successful enforcement of an action in which sanctions exceeding $1 million were imposed. The statute and rules implementing the program also include anti-retaliation protections for individuals who provide information with a reasonable belief that the information relates to a possible securities law violation that has occurred, is ongoing, or is about to occur.
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