$14M SEC Whistleblower Award Is Just The Beginning

Law360, New York (October 1, 2013, 2:59 PM EDT) -- The U.S. Securities and Exchange Commission on Tuesday announced a record $14 million whistleblower award to an anonymous tipster, and experts say the bounties could grow even larger as the agency winds down scores of old enforcement actions based on tips.

The agency said it had awarded more than $14 million to an individual "whose information led to an SEC enforcement action that recovered substantial investor funds." The whistleblower requested anonymity and will not be identified, the SEC said. The specific enforcement action also was not identified.

The award is the third announced by the SEC's Office of the Whistleblower since...

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