The official promised that up to 30% of the collected fines would be given to whistle-blowers as a bonus for reliable information.
Securities and Exchange Commission (SEC) Chairman Gary Gensler has reached out to the public via his Twitter blog asking for the SEC’s help in detecting, exposing, investigating and prosecuting financial law violators.
Whistleblowers play a vital role in helping us @SECGov detect, investigate, & prosecute potential violations of the securities laws.
We encourage the public to submit any tips, complaints, & referrals.
For more, check out our whistleblower page https://t.co/tfzOZFtprA
— Gary Gensler (@GaryGensler) October 18, 2022
Speaking on behalf of the SEC, Gensler recalled that since August, a special service has been launched on the agency’s platform to receive information on the SEC whistleblower program. The SEC is authorized by Congress to provide monetary rewards to individuals who provide high-quality information that has helped prosecute violators of $1 million or more.
The head of the department said that he understands how difficult it is for citizens to make a decision and provide regulatory authorities with data on offenses. However, by knowing the circumstances and the people involved, whistleblowers can help the Commission detect fraud and other violations much sooner than would otherwise be possible.
Popular crypto enthusiast Kenny Nguyen sarcastically responded to a tweet from the head of the SEC, asking Gensler to reward him for reporting on William Hinman, the former director of the SEC.
A user named Eduard Brichuk commented on Gensler’s post and asked if Gensler was willing to discuss Citadel Securities violations for a fee, or if appealing to the public is a form of psychological abuse and social parasitism that causes citizens to doubt the adequacy of the perception of the surrounding reality.
Earlier, a FOX Business reporter suggested that the head of the SEC violated protocol in the Kim Kardashian case in order to earn points as a contender for the post of secretary of the treasury.
Source: Bits
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