With a more than $10 million award Thursday, the U.S. Securities and Exchange Commission ran up the score in an already record-setting year for the agency’s initiative to reward tipsters, adding to a pile of payouts that has grown against the backdrop of rule changes that have raised alarm among some whistleblower advocates.
The SEC has doled out more than 35 awards this year, including a nearly $50 million bounty in June that was topped last week by a more than $114 million payout, the highest reward in the history of the agency’s whistleblower program. Thursday’s award went to a tipster who was credited for providing the SEC with key evidence, along with help deciphering communications, after prompting the agency to open an investigation that resulted in a successful enforcement action.
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