Temat: SEC Awards $875,000 to More Whistleblowers Who Aided...

SEC Awards $875,000 to More Whistleblowers Who Aided Investigation.

Two tipsters will split a bounty of $875,000 paid by the Securities and Exchange Commission for their assistance with an enforcement action, the latest reward doled out as part of the agency's whistleblower program.

Details about the circumstances that led to the award are scarce. The SEC stresses it must “must protect the confidentiality of whistleblowers and cannot disclose any information that might directly or indirectly reveal [their] identity.” Each of the latest recipients will split 15 percent of the 30 percent monetary sanctions collected as a result of the information they provided, including those obtained in the future. The maximum award the SEC can offer under the program is 30 percent of collected sanctions.

The SEC's whistleblower initiative was authorized by the Dodd-Frank Act and rewards "high-quality, original information" that results in an SEC enforcement action with sanctions exceeding $1 million. Awards can range from 10 percent to 30 percent of the money collected in a case. A total of eight whistleblowers have collected rewards through the SEC's program since it began in late 2011.

See: http://www.complianceweek.com/sec-awards-875000-to-mor...Ten post został edytowany przez Autora dnia 05.06.14 o godzinie 17:57