This $800 million whistleblower program is losing its top cop
The head of the Securities and Exchange Commission’s highly-successful whistleblower program is stepping down at a delicate moment for the market watchdog.
Jane Norberg is leaving the SEC on Friday, after presiding over a four-and-half-year period during which the whistleblower office handed out a staggering $702 million in awards to 114 individuals who aided the agency’s investigations.
“The program is in a really fantastic place,” Norberg told CNN Business. “If the staff keeps doing what they’re doing, it’s going to continue to be incredibly successful.”
Norberg, a former Secret Service agent, admitted that she had some doubts about just how successful the whistleblower office would be when she joined the SEC in 2012.
Friday, April 16, 2021
Today, the U.S. Securities and Exchange Commission (SEC) announced a joint whistleblower award of $50 million to claimants whose information of highly complex illegal transactions led to successful enforcement actions.
As a result of their reporting, the whistleblowers helped in the recovery of tens of millions of dollars that were returned to harmed investors.
According to the SEC award order, Claimants 1 and 2 provided the Commission staff with highly valuable information that led to the opening of an investigation into an ongoing fraud. The fraudulent scheme, the award order continued, would have been difficult to detect without the assistance of the whistleblowers.
SEC Awards Over $50 Million To Joint Whistleblowers - Awards This Fiscal Year Exceed Quarter Of A Billion Dollars Date
15/04/2021
The Securities and Exchange Commission today announced an award of over $50 million to joint whistleblowers whose information alerted SEC staff to violations that involved highly complex transactions and would have been difficult to detect without their information.
The joint whistleblowers provided exemplary assistance to the SEC staff during the investigation, including meeting with staff numerous times and providing voluminous detailed documents. The information provided by these individuals resulted in the return of tens of millions of dollars to harmed investors.
“Today’s award is the second largest in the history of the program, reflecting the tremendous contribution of these joint whistleblowers to our ability to recover funds for harmed investors,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “The SE
By Aaron Nicodemus2021-04-15T16:02:00+01:00
A pair of whistleblowers were awarded over $50 million by the Securities and Exchange Commission (SEC) on Thursday for helping the agency uncover violations involving complex transactions that “would have been difficult to detect without their information.”
The tips were the result of numerous interviews between the two whistleblowers and SEC investigators and were supported by extensive documentation. The information led to a covered action that “resulted in the return of tens of millions of dollars to harmed investors,” the SEC said in a press release.
“Today’s award is the second largest in the history of the program, reflecting the tremendous contribution of these joint whistleblowers to our ability to recover funds for harmed investors,” said Jane Norberg, chief of the SEC’s Office of the Whistleblower. Norberg recently announced she will leave the SEC by the end of the month. The office’s deputy chief, Emily Pasqu
ADVERTISEMENT
ADVERTISEMENT
SEC Doles Out Second-Largest Whistleblower Award
Law360 (April 15, 2021, 5:17 PM EDT) The U.S. Securities and Exchange Commission announced Thursday that it has handed out its second-largest ever whistleblower award, paying more than $50 million to two tipsters whose information led to tens of millions of dollars returned to harmed investors.
The awards resulted from tips about violations tied to highly complex transactions [that] would have been difficult to detect without their information, the agency said.
Jane Norberg, the outgoing chief of the SEC s whistleblower office, praised the tremendous contribution of these joint whistleblowers to our ability to recover funds for harmed investors.