Implications Of The SEC's 1st Whistleblower Award

Law360, New York (August 24, 2012, 12:06 PM EDT) -- The U.S. Securities and Exchange Commission recently announced that an anonymous tipster was eligible to receive the first award paid under its Dodd-Frank-mandated whistleblower program. While the commission has initially awarded only $50,000 to the whistleblower, the award could grow substantially as the government collects additional court-ordered sanctions in the case.

Significantly, this sum represents the largest award — 30 percent of the recovery — permissible under the whistleblower program. In line with the aggressive posture taken by federal regulators and prosecutors over the past few...
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