SEC Awards Whistleblower Over $50 Million for Enforcement Tip

A whistleblower will receive more than $50 million for providing “significant information” early in a Securities and Exchange Commission investigation that helped lead to an enforcement action.

The award, announced in an order Tuesday, didn’t identify the whistleblower or name the firm that the tipster flagged to the regulator — in line with longstanding agency practice.

The enforcement action related to a company misleading investors about the success of a unit within the firm. Executives within the firm also settled claims with the agency, according to the document, which is redacted in numerous places.

The whistleblower “provided extensive ongoing assistance ...