The U.S. Securities and Exchange Commission on Thursday issued the largest bounty in the decadelong history of its program for paying tipsters, awarding nearly $50 million to a whistleblower who was credited with providing “firsthand” information about corporate misconduct that led to an enforcement action. “This award marks several milestones for the whistleblower program,” Jane Norberg, chief of the SEC’s whistleblower office, said. “This award is the largest individual whistleblower award announced by the SEC since the inception of the program, and brings the total awarded to whistleblowers by the SEC to over $500 million, including over $100 million in this fiscal year alone. Whistleblowers have proven to be a critical tool in the enforcement arsenal to combat fraud and protect investors.”Whistleblower Receives $50M Award, Largest in SEC History | National Law Journal
As is its practice in these matters, the SEC did not reveal the identity of the whistleblower or any details about the entities or individuals involved.