SEC Awards Whistleblower $700k

The Securities and Exchange Commission announced a whistleblower award of more than $700,000 to a company outsider, who conducted a detailed analysis, not the typical insider's unique information, that led to a successful SEC enforcement action. Since the program’s inception in 2011, the SEC has paid more than $55 million, or 10-30% of money recovered in enforcement actions, to 23 whistleblowers, who provided it with unique and useful information.