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SEC doles out its largest ever whistleblower awards

Jaclyn Jaeger | March 19, 2018

The Securities and Exchange Commission today announced its highest ever Dodd-Frank whistleblower awards, with two whistleblowers sharing a nearly $50 million award and a third whistleblower receiving more than $33 million. The previous highest award of $30 million was given in 2014.

Those are the extent of the details the SEC has provided; specific details were redacted from the SEC order. By law, the SEC protects the confidentiality of whistleblowers and does not disclose information that might directly or indirectly reveal a whistleblower’s identity.

Law firm Labaton Sucharow said that it represented the whistleblowers in the case, who tipped the SEC to long-running misconduct at Merrill Lynch, "which over numerous years, executed complex options trades that...

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