The SEC announced today that its Whistleblower Office has issued the first-ever award to a whistleblower. The award of $50,000 was authorized under the high-profile program established under Dodd-Frank in 2010. For several months, there have been rumblings in the quickly-growing whistleblower bar that an award might be imminent. Sean McKessy, chief of the SEC’s Whistleblower Office, has declined to confirm those rumors, but said in late May that he was hopeful that the first payouts would come soon and be substantial to help motivate people who might be considering bringing a tip to the government.
