A year after pushing total bounties past the $100 million mark, the U.S. Securities and Exchange Commission’s whistleblower program forged ahead in the fiscal year ending Sept. 30 with nearly $50 million in awards to 12 tipsters, bringing the total number of recipients to 46.
Among those whistleblowers, according to the agency’s annual report to Congress, was a company insider who received $5.5 million for setting off an investigation that would shut down a scheme that targeted what the SEC described as a “vulnerable investor community.” Another whistleblower received more than $20 million—the third highest award in the program’s nearly seven-year history—for helping regulators bring an enforcement action against wrongdoers before they could squander their ill-gotten gains.
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