SEC Goes Far To Protect 1st Whistleblower's Anonymity

Law360, New York (August 21, 2012, 7:08 PM EDT) -- While doling out its first whistleblower award Tuesday — a modest $50,000 — the U.S. Securities and Exchange Commission went to great lengths to guard the tipster's desired anonymity, hiding many of the details securities attorneys had been dying to dig into since the program's unveiling last year.

In an anxiously awaited announcement, the SEC said it had awarded an unnamed whistleblower 30 percent of the amount the agency collected in an enforcement action over a multimillion-dollar fraud. Created by the Dodd-Frank Wall Street Reform and...
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