--- title: SEC Pays $3 Million Whistleblower Award description: SEC Pays $3 Million Whistleblower Award --- [![Jacko Law Group, PC - Securities Law](https://resources.jackolg.com/hubfs/Jackolawgroup%20February2018/image/brand.png)](http://www.jackolg.com/) Call Today for a Consultation San Diego 619-298-2880 San Francisco 415-766-3599 Los Angeles 213-631-2549 Menu [Contact](http://www.jackolg.com/Contact.shtml) - [Home](http://www.jackolg.com/) - [Firm Overview](http://www.jackolg.com/Firm-Overview/) - [Professionals](http://www.jackolg.com/Professionals/) - [Events](http://www.jackolg.com/Events.shtml) - [News](http://www.jackolg.com/News-Room/) - [Blog](http://www.jackolg.com/blog/) - [Videos](http://www.jackolg.com/Videos.shtml) - [Contact](http://www.jackolg.com/Contact.shtml) # Understand. Define. Achieve. 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View Our Practice Areas - [SEC/FINRA Regulatory Counsel](http://www.jackolg.com/Regulatory-Examinations-and-Inquiries-SEC-and-FINRA/) - [Private Equity & Hedge Fund Counsel](http://www.jackolg.com/Private-Equity-Counsel/) - [Investment Adviser Services](http://www.jackolg.com/Legal-Considerations-for-Breaking-Away/Investment-Adviser-Counsel.shtml) - [Breakaways And Transitions](http://www.jackolg.com/Legal-Considerations-for-Breaking-Away/) - [General Corporate Counsel](http://www.jackolg.com/Corporate-Counsel/) - [Broker- Dealer Counsel](http://www.jackolg.com/Broker-Dealer-Counsel/) #### News - [Legal Tips](http://www.jackolg.com/News-Room/) - [Publications](http://www.jackolg.com/News-Room/Publications.shtml) - [Blog](http://www.jackolg.com/blog/) # Jacko Law Group Blog # SEC Pays $3 Million Whistleblower Award The [Securities and Exchange Commission](http://www.sec.gov) (“SEC”) announced last week that it paid out over $3 million to a whistleblower. The payment marks the third highest award since the inception of the [Office of the Whistleblower](http://www.sec.gov/whistleblower), which was established to administer the SEC’s whistleblower program in 2011. According to the [SEC press release](http://www.sec.gov/news/pressrelease/2015-150.html) the [“whistleblower’s specific and detailed information comprehensively laid out the fraudulent scheme which otherwise would have been very difficult for investigators to detect.”](http://www.sec.gov/news/pressrelease/2015-150.html) Andrew Ceresney, Director of the SEC’s Division of Enforcement stated that “By providing significant financial incentives for people to come forward, the SEC’s whistleblower program continues to be profoundly effective in helping us protect investors and hold wrongdoers accountable.” By law the SEC protects information that may reveal a whistleblower’s identity. According to Sean X. McKessy, Chief of the Office of the Whistleblower, his “[office continues to receive thousands of whistleblower tips each year. When those tips bear fruit, those individuals, like today’s whistleblower, may receive significant financial awards](http://www.sec.gov/news/pressrelease/2015-150.html).” The whistleblower program has paid out nearly $50 million to 18 whistleblowers since its launch. The SEC made its largest payment of [$30 million](http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370543011290) in 2014. The payments are funded by an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators. 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