After paying a record $14 million to an unidentified whistleblower, the U.S. Securities and Exchange Commission is keeping the identity of the wrongdoer, and the scheme, secret. At least one critic says that’s bad policy.
“In terms of overall publication of a scheme and a defendant, it’s unprecedented for an agency to announce a sanction without disclosing the scheme or defendant,” whistleblower attorney Reuben Guttman said. “I am a proponent of the system, and an advocate that it be used in a way that doesn’t raise any questions.”
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