SEC hands out $37 million to whistleblower
The Securities and Exchange Commission has awarded a whistleblower with $37 million for providing new and critical information that led to the success of an enforcement action. According to the agency’s order, one whistleblower received the regulatory bounty for information and assistance that led the staff to open the investigation into “hard-to-detect violations.” He was the initial source that alerted the SEC to a previously unknown conduct and thereafter provided assistance that helped advance investigations. Specifically, he gave useful information at the earliest stages of the investigation and later provided supplemental information. Committed to protecting the anonymity of informants, neither…
