CSRC on April 2 claimed to reward the whistleblowers for disclosing violations of five listed companies, which are Sihuan Biological , Tianbao Foods , Jilin Pharmaceutical Holdings , Dehua Numonyx, and Jilin Sendong, with the latter two listed on the New Third Board, as reported by Caixin on April 3. This is the second time that CSRC announced to reward whistleblowers. After the new Securities Law took into force on March 1, 2020, CSRC has increased the maximum amount of rewards for whistleblowers who provide information about major violations and illegal practices of listed companies from RMB300,000 to RMB600,000.

Previously, according to the interim rules on reporting violations regarding securities and futures issued in June 2014, the maximum amount of rewards for whistleblowing was RMB300,000. Based on the rules, CSRC made the first rewards to the whistleblowers in three cases, respectively related to Liao Yingqiang who manipulated the market, Jiangsu Yabaite Technology , and Ren Zixing Network Technology .

Not only China but the US also rewards whistleblowers, and there have been many huge awards in recent years. For example, on June 4, 2020, the US Securities and Exchange Commission (SEC) announced to reward a whistleblower with USD50m, which was the largest reward ever granted to individuals by the SEC. Moreover, in 2018, the US SEC awarded a whistleblower with USD39m, the second most reward; this year, two more people shared a nearly USD50m whistleblower reward. In addition, the US SEC launched a whistleblowing program in 2012, and so far, has awarded more than USD500m to 83 individuals.

Sources:

https://finance.caixin.com/2021-04-03/101685536.html