The significance of the first whistleblower payment from the Securities and Exchange Commission 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 it made the first payout from its new whistleblower program under the Dodd-Frank Act to an unidentified person who helped stop a multimillion-dollar financial fraud. The law prohibits the agency from releasing details that could identify the claimant.
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