SEC Issues 3rd-Largest Whistleblower Award For $5M

Law360, New York (May 17, 2016, 5:27 PM EDT) -- The U.S. Securities and Exchange Commission said on Tuesday it will pay a former company employee who tipped the regulator to potential violations between $5 million and $6 million — the third-largest award to date under the SEC's whistleblower program.

The largest payout under the SEC's whistleblower program so far is $30 million. (Credit: Law360) The tipster at the unnamed company had alerted the SEC to violations of securities law that the commission had no way of detecting, according to the regulator's statement.

“Employees are often best positioned to witness wrongdoing,” Andrew Ceresney, director of the SEC’s Division of Enforcement, said...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Attached Documents

Related Sections

Government Agencies