The Securities and Exchange Commission has announced its second whistleblower award under the 2010 Dodd-Frank Act, which authorized awards of 10 to 30 percent of the recovery to individuals who offer high-quality original information that leads to an SEC enforcement action resulting in sanctions of more than $1 million. In a June 12, 2013 order, the SEC awarded three whistleblowers a total of 15 percent of any money the SEC ultimately collects from its enforcement action against Locust Offshore Management LLC and its CEO Andrey C. Hicks, who allegedly operated a sham hedge fund that defrauded investors of $2.7 million. To date, the SEC has not collected any amounts on these judgments, so no immediate payments will be made to the whistleblowers. Andrey C. Hicks and Locust Offshore Management, LLC, SEC Release No. 69,749 (June 12, 2013). Nonetheless, the announcement may be designed to encourage further whistleblower reports and demonstrate that the whistleblower program is working.