SEC Awards $36 Million to Whistle-Blower for Enforcement Tip
- Tipster helped SEC and another agency bring enforcement cases
- SEC has paid out about $1.1 billion to 214 tipsters since 2012
Photographer: Joshua Roberts/Bloomberg
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The U.S. Securities and Exchange Commission awarded $36 million to a tipster whose information resulted in an SEC enforcement action as well as a related case brought by another federal agency.
The whistle-blower provided crucial information on misconduct to the SEC and the other agency, which included multiple meetings and the identification of key documents and witnesses, according to a Friday statement from the regulator. Under the SEC’s program, tipsters can be paid for information that prompts sanctions by another agency.