SEC Issues Largest Whistleblower Award to Date

Summary: After issuing its first whistleblower award of $50,000 approximately one year ago, the SEC has continued to reward whistleblowers who report potential violations of federal securities law that result in successful enforcement actions, including a recent award for $14 million. The magnitude of this award is sure to encourage additional whistleblower reports to the SEC. Companies are advised to take seriously all internal complaints and conduct thorough investigations.