The SEC awarded $50,000 to a whistleblower in its first payout from the program started in August 2011 to reward individuals who provide the regulator with evidence of securities law violations which result in sanctions of more than $1 million. The whistleblower helped the SEC bring an enforcement action that resulted in more than $1 million in sanctions, the agency announced in a statement. The award represents 30 percent (the maximum allowed under the Dodd-Frank Act) of the approximately $150,000 collected so far. For more see here.
JD VIEW—This payout acts as a reminder of the significant financial incentives being paid to employees who are willing to disclose wrongdoing within the companies they work for.