Welcome
Securities Law News

SEC Awards Whistleblower $500,000 for ‘Expeditious Reporting’

July 23, 2019, 6:29 PM

An overseas whistleblower earned a $500,000 SEC reward thanks to “expeditious reporting,” the agency said July 23.

Monetary sanctions imposed because of whistleblower tips recently reached more than $2 billion, Jane Norberg, who heads the U.S. Securities and Exchange Commission’s whistleblower office, said. The Dodd-Frank Act prohibits the agency from releasing any details—including dates and company names—that could compromise whistleblower anonymity.

More than five dozen whistleblowers have earned around $385 million total in awards since the program began in 2012, the SEC said. Federal legislation enacted in response to the 2008 financial crisis mandated the program’s creation.

Whistleblowers who...

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