SEC's Second Whistleblower Award This Week Makes Exception for Tipster
After a nearly three-month dry period for whistleblower bounties, the U.S. Securities and Exchange Commission this week awarded a pair of tipsters who helped the agency bring successful enforcement actions. To approve the latest award, the SEC made an exception that it has used at least once before to reward a tipster who began working with the agency before the 2010 passage of Dodd-Frank reform law.
July 27, 2017 at 04:33 PM
7 minute read
After a nearly three-month dry period for whistleblower bounties, the U.S. Securities and Exchange Commission this week awarded a pair of tipsters who helped the agency bring successful enforcement actions.
On Thursday, two days after awarding nearly $2.5 million to an employee of an unspecified government agency—the first-ever of such an award—the SEC approved a more than $1.7 million bounty for a corporate insider who helped the agency stop a fraud that otherwise would have been difficult to detect.
”When whistleblowers tip the SEC, it not only can bring wrongdoers to justice but also relief to investors,” said Jane Norberg, chief of the SEC's whistleblower office. ”This whistleblower's valuable information enabled us to stop further investor harm and ultimately return money to victims.”
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