SEC Awards $2.2m to Whistleblower Despite Reporting Tip to Other Agency
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SEC Awards $2.2m to Whistleblower Despite Reporting Tip to Other Agency
The US Securities and Exchange Commission (SEC) Whistleblower program continues to see sizable awards given to company insiders and individuals. Since installed in 2012, the program has been instrumental in procuring information for investigations. The latest award has seen $2.2 million awarded to an individual even after reporting information to another federal agency first.
Since the program’s inception, a total of $264 million has been doled out to 54 whistleblowers, correlating to over $35 million per year. The role of whistleblowers has been key to several investigations, notably failings of disclosures in the banking and financial services space.
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