Stay up-to-date with the latest developments in securities law through access to both news and all statutes and regulations. Find relevant corporate filings through a searchable EDGAR database. And...
Dec. 9 — An unidentified insider has been awarded $900,000 for providing information that led to multiple successful Securities and Exchange Commission enforcement actions.
The award, announced Dec. 9 marks the second time the agency has paid out a whistle-blower this week.
To date, the program has awarded approximately $136 million to 37 individuals, the SEC said in a release. Enforcement actions from whistle-blower tips have resulted in more than $874 million in financial remedies over the life of the program, the agency said.
The SEC’s whistle-blower bounty program, created by the Dodd-Frank Act, grants financial awards of between 10 percent and 30 percent to qualified individuals whose tips result in sanctions totaling at least $1 million. The program has been popular—the SEC has received an increasing number of tips every year since the program was launched in 2011.
Award money isn’t taken or withheld from harmed investors, the agency said. Instead, payments are made from an investor protection fund established by Congress. The fund is financed through monetary sanctions paid to the commission by securities law violators.
The SEC is prohibited by federal law from identifying whistle-blower award recipients or the related cases.
To contact the reporter on this story: Antoinette Gartrell in Washington at firstname.lastname@example.org
To contact the editor responsible for this story: Phyllis Diamond at PDiamond@bna.com
To view the order, visit: https://www.sec.gov/rules/other/2016/34-79517.pdf
Copyright © 2016 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)