SEC Announces Additional $150,000 Payment to Recipient of First Whistleblower Award

The SEC announced that the whistleblower who received the first award under the agency's new whistleblower program will receive an additional $150,000 payout after the SEC collected additional funds in the case.

The whistleblower has now been awarded a total of nearly $200,000 since the award was announced on August 21, 2012. The SEC stated it expects to collect additional money from defendants in this case, as some are making payments under a periodic payment schedule ordered by the court.

See: SEC Press Release.See also: SEC Office of the Whistleblower Page; SEC Order Issuing First Award. Related Cadwalader Analysis: SEC Enforcement Advisor: SEC Announces Third Whistleblower Award (October 11, 2013); SEC Announces Second Set of Whistleblower Awards (July 3, 2013); The Dodd-Frank Whistleblower Program: An Analysis of the SEC's Second Annual Report, Best Practices for Dealing with Whistleblowers, and Recent Cases Interpreting the Scope of the Anti-Retaliation Provisions of the Dodd-Frank Act (December 10, 2012); The Dodd-Frank Whistleblower Provisions: Considerations for Effectively Preparing for and Responding to Whistleblowers (May 26, 2011).See generally: Cabinet Whistleblower Landing Page