By Stephanie Stoughton | Bloomberg
Two whistleblowers will receive a total of $98 million for providing information that helped in a probe by the US Securities and Exchange Commission.
Information provided by the whistleblowers led to SEC enforcement, as well an action by another agency, the regulator said in a statement Friday.
The first tipster, who prompted the opening of the investigations, will receive an $82 million award. The second, whose information came later, will get $16 million.
“Without these whistleblowers’ information, the violations would have been difficult to detect,” Creola Kelly, chief of the SEC’s Office of the Whistleblower, said in the statement.
In keeping with agency practice, the whistleblowers weren’t identified.
The whistleblower program was established by the 2010 Dodd-Frank Act to organize and provide incentives to tipsters. Whistleblowers can receive between 10% and 30% of the amount collected in penalties in successful enforcement cases where fines top $1 million.
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