ADVERTISEMENT
The Moment Nigeria
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
The Moment Nigeria
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport

SEC awards over $13m to whistleblower

by Usman Kadri
January 7, 2022
Reading Time: 2 mins read
SEC awards over $13m to whistleblower
Share on FacebookShare on TwitterShare on WhatsappShare on LinkedIn

The Securities and Exchange Commission Friday announced an award of more than $13 million to a whistleblower whose information and assistance prompted the opening of an investigation and significantly contributed to the success of an SEC enforcement action.

The whistleblower promptly alerted SEC staff to an ongoing fraud and provided extensive assistance to SEC staff by meeting in person and helping the staff understand the mechanics of the fraudulent scheme. The whistleblower’s information also helped the Commission obtain emergency relief to minimize investor losses.

“Today’s whistleblower provided significant information that alerted SEC staff to ongoing fraud, which had caused and was likely to continue to cause substantial injury to the financial interests of investors,” said Creola Kelly, Chief of the SEC’s Office of the Whistleblower.

RELATED STORIES

NIESV Lagos Chairman leads delegation to Adron Homes, seeks strategic collaboration

NIESV Lagos Chairman leads delegation to Adron Homes, seeks strategic collaboration

August 5, 2025
Dangote, Afreximbank, others sign $1.35b Refinery Refinancing deal

Dangote, Afreximbank, others sign $1.35b Refinery Refinancing deal

August 5, 2025

“Whistleblowers who provide information swiftly can not only save SEC staff’s time and resources, but also help minimize potential investor losses.”

The SEC has awarded approximately $1.2 billion to 238 individuals since issuing its first award in 2012.  All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators.

No money has been taken or withheld from harmed investors to pay whistleblower awards.  Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action.

Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.

As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose any information that could reveal a whistleblower’s identity.

Next Post
'Support Globacom' - Primate Ayodele advices President Buhari

'Support Globacom' - Primate Ayodele advices President Buhari

More Articles...

NIESV Lagos Chairman leads delegation to Adron Homes, seeks strategic collaboration

NIESV Lagos Chairman leads delegation to Adron Homes, seeks strategic collaboration

August 5, 2025
Dangote, Afreximbank, others sign $1.35b Refinery Refinancing deal

Dangote, Afreximbank, others sign $1.35b Refinery Refinancing deal

August 5, 2025
Thomas Partey granted conditional bail after appearing in court on rape and sexual assault charges

Thomas Partey granted conditional bail after appearing in court on rape and sexual assault charges

August 5, 2025
Unbelievable! See the number of PVCs collected by Nigerian

Road to 2027: INEC warns against early election campaigns

August 5, 2025

August 4, 2025
Investor confidence soars as Stanbic IBTC Holdings surpasses ₦100 stock price threshold

Investor confidence soars as Stanbic IBTC Holdings surpasses ₦100 stock price threshold

August 4, 2025

STANBIC IBTC ADVERT

About Us

Themomentng.com is an online community of reporters and social advocates dedicated to bringing you features, news reports by Africans, but from a global perspective.

Contact Us

+447771081433
+2348051966180(WhatsApp/SMS Only)
Email: themomentng@gmail.com

Categories

  • Business
  • Education
  • Entertainment
  • Events
  • Featured
  • Food
  • Foreign
  • Health
  • Interviews
  • Life and Styles
  • Metro
  • Motoring
  • News
  • Opinion
  • Politics
  • Religion
  • Society
  • Sport
  • Technology
  • Top Story

Follow Us

Facebook Twitter Instagram

Copyright © Themomentng.com. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport