On August 30, 2016, the SEC announced an award of more than $22 million to a whistleblower whose tips and assistance helped the SEC stop an ongoing fraud at the whistleblower’s employer. This is the SEC’s second-largest award, trailing only a September 2014 award of $30 million. As is typical, the SEC’s order says very little about the fraud or the whistleblower’s actions. However, the SEC’s order notes that, in determining the appropriate percentage to award the whistleblower (by statute between 10 percent to 30 percent of the sanctions collected), the whistleblower’s culpability was considered. The order further notes that several factors “mitigating the Claimant’s culpability were also considered,” but the only factor not redacted was that the whistleblower “did not financially benefit from the conduct.” In finding the redacted percentage to be appropriate, the SEC noted that it considered the positive and negative factors set forth in the whistleblower rules.

On June 9, 2016, the SEC announced a $17 million award to a former company employee who provided the SEC with a detailed tip aiding regulators’ investigation and enforcement proceedings. In its release announcing the award, the SEC noted that it had paid five whistleblowers more than $26 million over the preceding five months.