The Securities and Exchange Commission awarded three whistleblowers awards in excess of US $82 million, although it noted that two of the recipients “unreasonably delayed” in reporting their information to the SEC although their information later became the “cornerstone” of the SEC’s 2016 enforcement action against Merrill Lynch for purportedly violating customer protection requirements. (Click here for background on the SEC’s enforcement action in the article “Broker-Dealer Sanctioned US $415 Million by SEC for Violating Customer Protection Requirements” in the June 26, 2016 edition of Bridging the Week; the specific identity of the firm was not disclosed by the SEC, but by Labaton Sucharow, the law firm representing the whistleblowers – click here to access its announcement.) The Commission simultaneously declined applications for rewards to three other persons, claiming that their information did not lead to the success of an enforcement action.