Arab Today, arab today whistleblower gets 14m from us securities regulator
Last Updated : GMT 21:34:07
Arab Today, arab today
Arab Today, arab today

Whistle-blower gets $14M from US securities regulator

Arab Today, arab today

Arab Today, arab today Whistle-blower gets $14M from US securities regulator

Washington - UPI

A whistle-blower got $14 million as a reward for giving tips that helped recover substantial investor funds, the U.S. Securities and Exchange Commission said. The SEC reward, its largest tipster payout ever, is linked to the recovery of as much as $140 million, a United Press International calculation indicated. The information and other help the unnamed whistle-blower provided let the SEC complete its investigation more quickly than would otherwise have been possible, the regulator said. \"Less than six months after receiving the whistle-blower\'s tip, the SEC was able to bring an enforcement action against the perpetrators and secure investor funds,\" the SEC said in a statement, without indicating the amount of funds it secured. The SEC enforces federal securities laws and regulates the U.S. securities industry, stock and options exchanges and other electronic securities markets. \"Our whistle-blower program already has had a big impact on our investigations by providing us with high-quality, meaningful tips,\" SEC Chairwoman Mary Jo White said. \"We hope an award like this encourages more individuals with information to come forward,\" she said. The award is the largest made by the SEC\'s whistle-blower program to date, the agency said. The program\'s first award was about $50,000, given to a whistle-blower in August 2012. In the past two months the program, started in 2011 under the Dodd-Frank Wall Street Reform and Consumer Protection Act, handed out more than $25,000 to three people who helped \"halt a sham hedge fund,\" the SEC said. Awards range from 10 percent to 30 percent of the money collected in a case, meaning the $14 million tip led to the collection of $47 million to $140 million. The payouts come from a separate fund struck under Dodd-Frank and thus don\'t come from the agency\'s budget or reduce amounts recovered for injured investors, the SEC said. The regulator is required to protect the confidentiality of whistle-blowers and cannot, by law, disclose any information that might directly or indirectly reveal a whistle-blower\'s identity.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today whistleblower gets 14m from us securities regulator Arab Today, arab today whistleblower gets 14m from us securities regulator

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today whistleblower gets 14m from us securities regulator Arab Today, arab today whistleblower gets 14m from us securities regulator

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday