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SEC issues $2 million whistleblower award

Buckley InfoBytes

On April 3, the SEC announced an approximately $2 million award to a whistleblower in an enforcement action. According to the SEC’s press release, the whistleblower “provided vital information and assistance that substantially contributed to an ongoing investigation” that would otherwise have “been difficult for the agency to obtain absent the tip.” The formal order also states that the whistleblower “expeditiously reported the information” despite implied threats and suffering hardships, and that the law-enforcement interests in this investigation were high.

As of April 3, the SEC has awarded 78 individuals a total of approximately $398 million in whistleblower awards since its first award in 2012.

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