June 4, 2020 / 9:07 PM / a month ago

IN BRIEF: SEC awards record $50 million whistleblower award

The U.S. Securities and Exchange Commission on Thursday awarded nearly $50 million to a tipster who reported misconduct at a company, the largest bounty to date issued to a person under a whistleblower program that incentivizes insiders to report wrongdoing.

The securities regulator said the whistleblower provided “detailed, firsthand observations of misconduct by a company,” resulting in an enforcement action that resulted in a “significant” amount of money being returned to victims.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/30ll2jF

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