On August 21st, the SEC announced the first award under its Dodd-Frank Act whistleblower authority. The $50,000 award represents 30 percent of the amount collected in an SEC enforcement action against the perpetrators of a fraudulent scheme, the maximum percentage payout allowed by the whistleblower law. The award recipient, who does not wish to be identified, provided documents and other significant information that allowed the SEC's investigation to move at an accelerated pace and prevent the fraud from ensnaring additional victims. The whistleblower's assistance led to a court ordering more than $1 million in sanctions, of which approximately $150,000 has been collected thus far. The court is considering whether to issue a final judgment against other defendants in the matter. Any increase in the sanctions ordered and collected will increase payments to the whistleblower. The SEC did not approve a claim from a second individual seeking an award in this matter because the information provided did not lead to or significantly contribute to the SEC's enforcement action, as required for an award. SEC Press Release (with links to award determinations).