The Securities and Exchange Commission today announced an award of more than $18 million to a whistleblower whose information and assistance led to a successful SEC enforcement action.

After initially reporting misconduct internally, the whistleblower submitted information to the Commission that prompted the opening of an investigation. The whistleblower thereafter provided additional helpful information and substantial cooperation that saved the Commission time and resources during the investigation.

“Whistleblowers continue to play an essential role in assisting the agency in detecting misconduct and bringing securities law violators to justice,” said Creola Kelly, Chief of the SEC’s Office of the Whistleblower. “Today’s whistleblower refused to turn a blind eye to the wrongdoing, reporting misconduct internally and then to the Commission.”

Payments to whistleblowers are made out of an investor protection fund, established by Congress, 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 the 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.