SEC Welcomes Foreign Whistleblowers Though Courts Don't

Law360, New York (September 22, 2014, 9:59 PM EDT) -- As it doled out a record-smashing whistleblower award on Monday, the U.S. Securities and Exchange Commission sent a clear signal that it remains open to overseas tipsters even after a top federal court curtailed their right to sue.

In an order granting a bounty worth as much as $35 million to an unidentified claimant, the SEC staff also offered up a lengthy argument as to why the foreign resident is eligible for the cash despite the limits the federal judiciary has placed on overseas access to U.S. courts.

"In our view," SEC staff wrote in a footnote to Monday's whistleblower order,...

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