Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

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...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.