This whistle blower program awards 30 percent of the amount recouped once the Securities and Exchange Commission undertakes an enforcement action against the bad actor. To receive an award, however, the fraud must involve sanctions worth more than $1 million.
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- U.S. Securities and Exchange Commission
- Mary Schapiro
In a statement, SEC Chairman Mary Schapiro, said the program is a success. “We’re seeing high-quality tips that are saving our investigators substantial time and resources,” she said.