A whistleblower who was let go after raising concerns internally about discovered misconduct was the recipient of a $5 million award announced by the Securities and Exchange Commission on Monday.
The individual, unidentified in accordance with SEC policy as set out in the Dodd-Frank Act, provided “significant” information that led to an enforcement action, including a critical document evidencing possible wrongdoing and helping save time and resources in the Commission’s investigation. The tipster promptly notified the agency of the information after learning of it, according to the SEC’s order.
