Three years after requesting a reward for tipping off financial regulators, a whistleblower has asked a federal appeals court in Washington to light a fire under the U.S. Securities Exchange Commission to force it to decide on the award application.
In a petition filed on Dec. 10, Butzel Long partner Max Maccoby described the whistleblower’s award request as the “tip of the iceberg” in a backlog that threatens to diminish the effectiveness of the SEC’s compensation program for tipsters. The tipster is identified as “John Doe” in court papers.
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