The Securities and Exchange Commission revealed Thursday it issued a record $50 million whistleblower payout to an individual who “provided detailed, firsthand observations of misconduct by a company.”
The whistleblower’s tip resulted in enforcement being taken against a related company and returned a significant amount of cash to harmed investors, according to the agency’s Thursday release. The SEC didn’t identify the whistleblower, company, or investors involved in the matter.
The award trounces the previous record sum of $39 million for an individual in 2018. A separate case that same year yielded a $50 million award split between two whistleblowers. The latest payment pushes the SEC program’s total payouts above $500 million.Read more here.