{"id":5893,"date":"2015-11-04T00:00:00","date_gmt":"2015-11-04T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/11\/sec_issues_over_325k_whistlebl"},"modified":"2022-05-17T13:53:03","modified_gmt":"2022-05-17T18:53:03","slug":"sec-issues-over-325k-whistlebl","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-issues-over-325k-whistlebl\/","title":{"rendered":"SEC Issues Over $325K Whistleblower Award to Ex-Investment Firm Employee Who Provided Fraud Tip"},"content":{"rendered":"

The Securities and Exchange Commission is awarding over $325K to an ex-investment firm employee who notified the regulator about misconduct that had been going on at his former employer. The information he provided allowed the SEC\u2019s enforcement staff to investigate and discover the extent of the fraud. <\/p>\n

In addition to providing specific details about the misconduct, the whistleblower identified who was involved in the fraud. However, said the Commission, if the whistleblower had come forward with the information sooner rather than waiting until after departing the investment firm, the award for exposing the fraud may have been greater. <\/p>\n

In a statement, SEC Enforcement Division Director Andrew Ceresney spoke about how it is important for corporate insiders who are aware that there have been securities law violations to report what they know right away so that the misconduct can be stopped and investors are protected from any or further harm. He noted that the Dodd-Frank Act provides whistleblowers with substantial protections and incentives for tipping the agency about suspected wrongdoing.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission is awarding over $325K to an ex-investment firm employee who notified the regulator about misconduct that had been going on at his former employer. The information he provided allowed the SEC\u2019s enforcement staff to investigate and discover the extent of the fraud. 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