The Securities and Exchange Commission recently announced its second ever whistleblower award to an employee with internal audit or compliance responsibilities.  See Press Release, SEC,SEC Announces Million-Dollar Whistleblower Award to Compliance Officer, Release No. 2015-73 (Apr. 22, 2015).  This whistleblower, a compliance officer who had a reasonable basis to believe that disclosure to the SEC was necessary to prevent imminent misconduct from causing substantial financial harm, will receive between $1.4 and $1.6 million.  This compliance officer reported the misconduct at issue after company management knew of the potentially impending harm to investors but failed to take steps to prevent it.  When investors could suffer substantial harm, SEC rules permit compliance officers to receive awards as a result of reporting misconduct to the SEC.