SEC To Hand Out Record $30M Whistleblower Award

Law360, New York (September 22, 2014, 1:58 PM EDT) -- The U.S. Securities and Exchange Commission announced on Monday that it expects to award more than $30 million to a whistleblower who provided key original information that led to a successful enforcement action, setting a new record for payouts received under the agency’s new Dodd-Frank powers.

The award, which will range from $30 million to $35 million, will be the largest made by the SEC’s three-year-old whistleblower office and the fourth made to a tipster living in a foreign country, the SEC said on Monday. The previous high for an SEC award to a whistleblower, announced in October 2013, was $14...

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