SEC Pays First Whistleblower Reward

Agency awards $50,000 to individual who helped on an enforcement action involving more than $1 mln in sanctions.

The U.S. Securities and Exchange Commission awarded $50,000 to a whistleblower in its first payout from a program launched last year to reward people who provide regulators with evidence of securities fraud.

The whistleblower helped the SEC bring an enforcement action that resulted in more than $1 million in sanctions, the agency said today in a statement. The award represents 30 percent -- the maximum allowed under the Dodd-Frank Act -- of the approximately $150,000 collected so far.

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments

Advertisement. Closing in 15 seconds.