The U.S. Securities and Exchange Commission on Thursday awarded the second highest bounty in the history of the agency’s whistleblower program, agreeing to pay a former company employee more than $17 million for tips that advanced an investigation in the financial services industry.
“Company insiders are uniquely positioned to protect investors and blow the whistle on a company’s wrongdoing by providing key information to the SEC so we can investigate the full extent of the violations,” Andrew Ceresney, director of the SEC’s enforcement division, said in a prepared statement. “The information and assistance provided by this whistleblower enabled our enforcement staff to conserve time and resources and gather strong evidence supporting our case.”
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