SEC doles out record $50 million to whistleblower, pushing program total above $500 million
A general exterior view of the U.S. Securities and Exchange Commission headquarters in Washington, June 24, 2011.The Securities and Exchange Commission paid out a record $50 million whistleblower award to one person who "provided detailed, firsthand observations of misconduct by a company," according to a ThursdayThe payout pushes the SEC's total awards to whistleblowers above $500 million since the first payment was made in 2012.
The whistleblower's tip resulted in enforcement being taken against a related company and returned a significant amount of cash to harmed investors, according to the agency's ThursdayThe award trounces the previous record sum of $39 million for an individual in 2018. A separate case that same year yielded a $50 million award split between two whistleblowers. The latest payment pushes the SEC program's total payouts above $500 million.
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