SEC Awards $2.2M To Whistleblower Under 'Safe Harbor' Rule

Law360 (April 5, 2018, 9:05 PM EDT) -- The U.S. Securities and Exchange Commission on Thursday said it has awarded $2.2 million to a whistleblower whose initial tip to another federal agency led to an SEC enforcement action, the first such award under a so-called safe harbor rule that allows awards for tips not taken first to the SEC.

In most cases, whistleblowers are only eligible for awards from the SEC if they first report their securities-related complaints to the SEC. But the safe harbor portion of the 2010 Dodd-Frank Act states that whistleblowers who first report a complaint to another federal agency can still be eligible for an...

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!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!