A whistleblower was awarded nearly $279 million by the Securities and Exchange Commission Friday, the largest amount ever given to a whistleblower.
Whistleblower claims made by two other people were denied in the
order; the regulator wrote that neither claimant provided information that contributed to the enforcement action.investigations if the overall amount is more than $1 million.said the investigation had started before the whistleblower stepped forward, but the person provided information that widened the scope of the misconduct being examined. The informant’s help included written submissions and interviews.
“The size of today’s award — the highest in our program’s history — not only incentivizes whistleblowers to come forward with accurate information about potential securities law violations, but also reflects the tremendous success of our whistleblower program,” SEC Division of Enforcement Director Gurbir Grewal said.
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