Three compliance practitioners received shares of a more than $1 million whistleblower award announced by the Securities and Exchange Commission (SEC) on Friday.
The whistleblowers waited more than 120 days after reporting the misconduct internally to bring it to the attention of the SEC—an exception that allowed them to become eligible for an award despite Exchange Act Rule restrictions upon compliance employees. The amounts received by each individual were undisclosed in accordance with measures taken to protect the anonymity of those reporting wrongdoing.
