The whistleblower will receive more than US$900,000, meaning the SEC has awarded a total of 37 whistleblowers more than US$136 thus far
The U.S. regulator has now distributed approximately US$135 million to 36 whistleblowers since issuing its first award in 2012
The tipster enabled the SEC to bring an enforcement action against the culprit before most of the money could be lost, leading to an almost total recovery of investor funds
The program has awarded more than US$100 million to whistleblowers
In addition, the regulator’s whistleblower program, introduced this summer, has already received more than 30 tips from prospective whistleblowers
Whistleblower awards top US$100 million
U.S. health insurer introduced a provision that would deter departing employees from filing applications for SEC whistleblower awards
BlueLinx must pay a US$265,000 penalty for requiring outgoing employees to waive their rights to monetary rewards if they file a complaint
The new program promises to pay rewards of up to $5 million for original information of industry misconduct that results in successful enforcement action
The program will protect tipsters, but will not offer monetary rewards