On March 19, 2018, the Securities and Exchange Commission (“SEC”) announced its highest ever Dodd-Frank Act (“DFA”) bounty awards to three whistleblowers. These SEC awards represent a new milestone in the SEC’s ongoing efforts to incentivize would-be whistleblowers to report unlawful conduct directly to the Commission. Two whistleblowers will divide a nearly $50 million award
bounty
SEC Announces Record Whistleblower Award Of Over $30 Million
By Jackson Lewis P.C. on
On September 22, 2014 the Securities & Exchange Commission (SEC) announced that it would pay a Dodd-Frank Act (DFA) whistleblower award of $30 to $35 million to an anonymous foreign tipster. DFA authorizes awards of 10% to 30% of the SEC’s recovery if the tip leads to an SEC enforcement action with sanctions exceeding $1…