The significance of the first whistleblower payment from the Securities and Exchange Commission this week wasn’t the size of the payout—a paltry $50,000—but rather the clear message the agency added to the memo line on the check: There’s much more to come.
The SEC announced Wednesday that it made the first payout from its new whistleblower program under the Dodd-Frank Act to an unidentified person who helped stop a multi-million dollar financial fraud. The law prohibits the agency from releasing details that could identify the claimant.
