SEC's $30M Warning — The Foreign Whistleblower

Law360, New York (October 2, 2014, 10:07 AM EDT) -- In its 14th award to a whistleblower under the Dodd-Frank Wall Street Reform and Consumer Protection Act's whistleblower program,[1] the U.S. Securities and Exchange Commission last week announced the award of more than $30 million to a foreign resident, the fourth whistleblower living outside of the United States to receive such an award. The Sept. 22, 2014, award represents the largest Dodd-Frank whistleblower award to date, more than doubling the previous $14 million high awarded last October.

Despite a "downward adjustment" based on the whistleblower's "unreasonable reporting delay,"[2] the SEC's director of the Division of Enforcement commended the whistleblower for coming...

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