The Financial Post reports in its Thursday edition that the U.S. Securities and Exchange Commission awarded $110-million to a tipster whose information resulted in enforcement actions, bringing total payments under the agency's whistle-blower program to more than $1-billion (all figures U.S.). A Bloomberg dispatch to the Post says that the tipster's award, the second-largest to date includes $40-million from the SEC and $70-million from a related action brought by another agency. Under the program, tipsters can be paid for information that prompts sanctions by another agency. "Today's announcement underscores the important role that whistleblowers play in helping the SEC detect, investigate and prosecute potential violations of the securities laws," said SEC chairman Gary Gensler. The SEC's largest payout was $114-million in 2020.
© 2021 Canjex Publishing Ltd. All rights reserved.