The U.S. Securities and Exchange Commission awarded $17 million to a former company employee who gave information that helped the agency further an investigation.
This was the second biggest award in history, the largest award issued in the program was $30 million awarded in 2014.
“The information and assistance provided by this whistleblower enabled our enforcement staff to conserve time and resources and gather strong evidence supporting our case,” SEC enforcement chief Andrew Ceresney stated.
Whistleblowers are entitled to an award if they provide the Securities and Exchange Commission with information that leads to a successful enforcement action. The awards can range from 10 to 30 percent of the money collected on sanctions beyond $1 million.
By law a Whistleblowers can remain anonymous.
