On June 3rd, the Securities and Exchange Commission awarded more than $875,000, to be split evenly, to two whistleblowers that provided high-quality tips and assistance resulting in an enforcement action in a complex area of the securities market.
The Dodd-Frank Act authorized the SEC’s whistleblower program which awards 10 to 30 percent of the money collected in cases resulting in sanctions exceeding $1 million.
The SEC cannot disclose a whistleblower’s identity.
Since late 2011, the SEC’s whistleblower program has awarded eight individuals for assistance in bringing successful enforcement action.
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