The SEC announced today that it issued a sizable whistleblower award to a former corporate officer. The SEC stated that while corporate officers and directors are typically not eligible under the Dodd-Frank whistleblower statute to receive awards, the statute carves out an exception if an officer reports information concerning misconduct to the SEC more than 120 days after other responsible compliance personnel at the company possessed the information and failed to adequately address the issue. The award announced today was the first issued to a corporate officer by the agency under that exception.
