Tuesday, August 21, 2012
SEC Pays First Award Under Dodd Frank Whistleblower Program
The Securities and Exchange Commission has announced its first award under the whistleblower program created by the Dodd Frank Act. The whistleblower, who remains anonymous, will receive $50,000, or 30 percent of the amount collected thus far, as well as a portion of any additional funds subsequently collected. According to the SEC, the whistleblower’s information led to a court ordering over $1 million in sanctions.
The Chief of the SEC Whistleblower Office, Sean McKessy, said “The fact that we made the first payment after just one year of operation shows that we are open for business and ready to pay people who bring us good, timely information.”
Read the entire press release, “SEC Issues First Whistleblower Program Award"
Posted by eithurburn on 08/21 at 12:22 PM
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