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SEC issues $800,000 whistleblower award after reconsideration

Buckley InfoBytes

On October 15, the SEC announced a more than $800,000 award to a whistleblower in connection with two successful agency enforcement actions, after a request for reconsideration. According to the redacted order, the whistleblower contested a preliminary denial and after review, the SEC determined the whistleblower satisfied the program requirements by “author[ing] information containing a detailed analysis that alerted Commission staff to the underlying securities violations.” The order notes that the whistleblower did not provide any further assistance beyond the initial tips.

The SEC has now paid a total of $562 million to 107 individuals since the inception of the program.  

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