Two tipsters will split a bounty of $875,000 paid by the Securities and Exchange Commission for their assistance with an enforcement action, the latest reward doled out as part of the agency’s whistleblower program.
Details about the circumstances that led to the award are scarce. The SEC stresses it must “must protect the confidentiality of whistleblowers and cannot disclose any information that might directly or indirectly reveal [their] identity.” Each of the latest recipients will split 15 percent of the 30 percent monetary sanctions collected as a result of the information they provided, including those obtained in the future. The maximum award the SEC can offer under the program is 30 percent of collected sanctions.
