According to a recent One Minute Memo, by Christopher F. Robertson and Megan H. Poonolly, potential tipsters have fresh incentive to come forward thanks to the U.S. Securities and Exchange Commission’s latest multi-million dollar whistleblower reward. Though similar recoveries or bounties are not available under the most frequently employed whistleblower protections, this kind of news is also likely to lead to an increase in other, non-SEC, whistleblower claims.
The SEC recently announced that it had awarded an unprecedented $14 million to an anonymous whistleblower. According to the SEC, the individual’s information led to an SEC enforcement action that “recovered substantial investor funds” less than six months after the SEC received the tip. However, the SEC did not provide any other details about the case.
Checkout the One Minute Memo for more details and analysis.