SEC Pays $50,000 in First Dodd-Frank Whistleblower Reward
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The U.S. Securities and Exchange Commission awarded $50,000 to a whistleblower in its first payout from a program started last year to reward people who provide regulators with evidence of securities fraud.
The whistleblower helped the SEC bring an enforcement action that resulted in more than $1 million in sanctions, the agency said today in a statement. The award represents 30 percent -- the maximum allowed under the Dodd-Frank Act -- of the approximately $150,000 collected so far.