The Securities and Exchange Commission today announced awards of more than $12 million to two whistleblowers who provided information and assistance in a successful SEC enforcement action.

The first whistleblower prompted the opening of the investigation and provided information on violations that would otherwise have been difficult to detect. This whistleblower identified key witnesses, helped staff understand complex fact patterns and issues, and made persistent efforts to remedy the issues. As a result, this whistleblower will receive an award of more than $9 million. The second whistleblower submitted important new information during the course of the investigation and will receive an award of more than $3 million.

"Whistleblowers play a critical role in helping the SEC detect and prosecute wrongdoing and in protecting investors and the capital markets," said Creola Kelly, Chief of the SEC’s Office of the Whistleblower. "The information and assistance provided by these two whistleblowers in helping to identify complex wrongdoing demonstrates the importance of the whistleblower program to the SEC’s enforcement efforts."

Payments to whistleblowers are made out of a Congressionally-established investor protection fund, which 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 to 30 percent of the money collected when 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.

For more information about the whistleblower program and how to report a tip, visit www.sec.gov/whistleblower.