Tipsters Get $175 Million From SEC in Record Year for Program
- Agency has paid 39 whistle-blowers for help in past 12 months
- Regulator has paid out $562 million since first award in 2012
Photographer: Joshua Roberts/Bloomberg
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The U.S. Securities and Exchange Commission paid about $175 million to 39 whistle-blowers in the past year, setting a record for a program that rewards tipsters for helping the agency go after corporate wrongdoing.
Six awards were announced by the SEC on Wednesday, the final day of the federal government’s fiscal year. In the biggest case, a pair of inside whistle-blowers will share almost $30 million for providing tips that led a successful enforcement case. The tipster who first called attention to the wrongdoing was awarded more than $22 million, one of the biggest payments the SEC has given to an individual.