Whistleblower Gets Record US$50M for Aiding U. S. SEC

The U. S. Securities and Exchange Commission awarded a record payment of nearly US$ 50 million to a whistleblower who provided information about a company’s misconduct that helped the agency bring an enforcement case that returned a significant amount of money to harmed investors. The whistleblower provided detailed, firsthand observations of the wrongdoing, the SEC said. The agency didn’t identify the whistleblower or the company involved, citing federal law that protects confidentiality. “Whistleblowers have proven to be a critical tool in the enforcement arsenal to combat fraud and protect investors,” Jane Norberg, head of the SEC’S whistleblower office, said in the statement. The nearly Us$50-million award is the largest ever for a single whistleblower, the SEC said.