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Whistleblower Gets Record $14 Million Reward From SEC

Whistleblower Awarded Largest SEC Payout Ever
Reuters
UNITED STATES - OCTOBER 26: A flag waves in front of the headquarters of the Securities and Exchange Commission in Washington, D.C., October 26, 2006. The SEC, criticized by Congress for its handling of a trading probe that entangled Morgan Stanley Chief Executive Officer John Mack, faces a broad review by government auditors of its management and methods for policing the financial markets. (Photo by Dennis Brack/Bloomberg via Getty Images)
UNITED STATES - OCTOBER 26: A flag waves in front of the headquarters of the Securities and Exchange Commission in Washington, D.C., October 26, 2006. The SEC, criticized by Congress for its handling of a trading probe that entangled Morgan Stanley Chief Executive Officer John Mack, faces a broad review by government auditors of its management and methods for policing the financial markets. (Photo by Dennis Brack/Bloomberg via Getty Images)

WASHINGTON, Oct 1 (Reuters) - U.S. securities regulators announced Tuesday they have awarded a record $14 million to a whistleblower who helped enforcement lawyers with an investigation that helped recover "substantial" investor funds.

This marks the largest-ever whistleblower award the Securities and Exchange Commission has paid out since it launched its new whistleblower incentive program under the 2010 Dodd-Frank Wall Street reform law.

The SEC did not identify the case, saying the whistleblower wishes to remain anonymous. (Reporting by Sarah N. Lynch; Editing by Gerald E. McCormick)

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