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The Securities and Exchange Commission is giving its biggest award yet, about $30 million, to a whistleblower who provided key information that led to an enforcement action in a fraud case.
The agency announced the award Monday. It was the SEC’s 14th whistle-blower award under a program adopted in 2011 and the fourth to a whistle-blower living in a foreign country. The nature of the enforcement and the whistleblower’s identity weren’t revealed.
Under the program, tipsters who report corporate fraud or other misconduct are eligible if the information leads to an enforcement action resulting in more than $1 million in penalties. They can receive from 10 percent to 30 percent of the recovered money.
