Company Insider Receives Whistleblower Award Exceeding $500,000
The SEC awarded a whistleblower in excess of $500,000 for reporting "well-hidden misconduct" that led to an enforcement action. SEC Office of the Whisteblower Chief Jane Norberg explained the importance of the award:
"This company employee saw something wrong and did the right thing by reporting what turned out to be hard-to-detect violations of the securities laws. . . . Company insiders are in a unique position to provide specific information that allows us to better protect investors and the marketplace. We encourage insiders with information to bring it to our attention."
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