Corporate Law News

Big SEC Whistleblower Awards Triggered Fund Refill for First Time

July 11, 2018, 11:01 AM

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...

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