SEC Accounces Its First Whistleblower Payment Under Dodd-Frank

The SEC announced today that it had made its fist payment to a whistleblower pursuant to the Dodd-Frank Act.  Although the SEC has touted this as evidence of the success of the whistleblower program, the $50,000 payment seems relatively small.  Apparently, it will increase if the SEC collects additional sanctions.  The SEC did not reveal any information about which case generated the award.  It is interesting to note that the SEC also announced today that it did not pay an award to a second whistleblower who provided information.

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