Tuesday, August 21, 2012

S.E.C. Pays Out First Whistle-Blower Reward


Federal securities regulators said on Tuesday that they had handed out the first reward under a new whistle-blower program, paying nearly $50,000 to a person who helped the agency shut down an investment fraud, at least according to the NY Times' Dealbook.

An unnamed recipient provided documents and other data to the Securities and Exchange Commission in the case. The commission said the information had helped it prevent new victims from being ensnared in a fraud scheme.

Under a new law, the S.E.C. cannot disclose any additional information about the firm involved…

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