Corporate Law News

Two SEC Whistleblowers Claim Bounties Totaling $16M

Nov. 30, 2017, 10:08 PM

Two unidentified individuals were awarded bounties of $8 million apiece for blowing the whistle on misconduct that resulted in a successful enforcement action, the SEC announced Nov. 30.

Five other claimants were denied awards in connection with the same matter, either because they didn’t apply in a timely manner, didn’t provide original information, or didn’t make a meaningful contribution to the success of the case, the Securities and Exchange Commission’s Nov. 30 order said.

The whistleblower program has now awarded more than $175 million to 49 whistleblowers since its inception in 2011, the SEC said. The program’s largest bounty—$30 million—was...

To read the full article log in. To learn more about a subscription click here.