SEC Announces Largest Whistleblower Award (with Bondi Comment)

The SEC announced an expected award of more than $30 million to a whistleblower who provided the SEC with key original information that led to a successful enforcement action. The award will be the largest made by the SEC's whistleblower program to date, and the fourth award to a whistleblower living in a foreign country.

Bondi Comment: The size of the award provided under the SEC whistleblower bounty program may be a game changer. Prior to today, the awards have been significant, but relatively modest. Undoubtedly, today's bounty will spark "whistleblowers" – some with legitimate information, some without – to come forward in the hope of receiving huge, life-changing amounts of money.

See: SEC Order; SEC Press Release.See also: Whistleblower Specialty Page (available to Cabinet subscribers only).