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SEC issues $20 million whistleblower award

Joe Mont | November 14, 2016

On Monday, the Securities and Exchange Commission announced an award of more than $20 million to a whistleblower who “promptly came forward with valuable information that enabled the Commission to move quickly and initiate an enforcement action against wrongdoers before they could squander the money.”

The $20 million award is the third highest since the SEC’s whistleblower program issued its first award in 2012.  The program has now awarded more than $130 million to whistleblowers who voluntarily provided the SEC with unique and useful information that led to a successful enforcement action.

By law, the SEC protects the confidentiality of whistleblowers and does not disclose information that might directly or indirectly reveal a whistleblower’s identity. Due to those protections, scant information was provided on details of the underlying enforcement action.

“This whistleblower alerted us with a...

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