SEC Denies Whistleblower Awards

You can make up to 30% on all monetary sanctions over $1 million imposed by the SEC as a whistleblower. Last week the SEC handed out $875,000 to 2 informants.

http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370541980219#.U5YWa_ldWVM

However, your information had better be correct. The SEC denied  payment to one person now and in the future and as to related matters whose claims were “patently baseless” and were found to be “vague,unsupported, and utterly incredible…”

The good news is that the SEC investigates these claims  and doesn’t just rely on the submissions of persons who may have ulterior motives to turn someone in.

http://www.sec.gov/about/offices/owb/orders/owb-multiple-final-051214.pdf

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
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