SEC Director of the Division of Enforcement Andrew Ceresney underscored the importance of this award, stating: “Whistleblowers can receive an award not only when their tip initiates an investigation, but also when they provide new information or documentation that advances an existing inquiry.” Although the SEC’s Whistleblower Program has been in effect since 2011, this award is the first publicized approval of a claim under this particular provision of the whistleblower protection rules. Accordingly, it has far-reaching implications, particularly on compliance programs and cooperation during regulatory investigations.
‘Enforcement 40’ for 2020
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