The SEC had to replenish a whistleblower awards fund for the first time in the account’s eight-year history in May after a record-breaking payout that might be among the last of its kind.
The Securities and Exchange Commission disclosed the replenishment in a 184-page proposal to amend whistleblower program rules released June 29. The right-leaning commission voted 3-2 along ideological lines to seek public comment on the plan.
The SEC currently gives whistleblowers 10 percent to 30 percent of the money collected in cases that yield at least $1 million in fines and sanctions against a company.
The proposal would...