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Whistle-Blower Gets $14 Million in Largest SEC Payout

The U.S. Securities and Exchange Commission awarded more than $14 million to a whistle-blower whose tip allowed regulators to recover investor funds through an enforcement case, the agency said in a statement today.

The award is the largest ever made by the SEC, which was given authority in the 2010 Dodd-Frank financial regulation law to reward people who come forward and provide original information that leads to successful enforcement actions. The agency can issue awards that are between 10 and 30 percent of the money collected from the wrongdoer.