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Whistleblower Wins $4Mln Prize for Tip Leading to US Prosecution - Regulator

© AP Photo / Andrew HarnikU.S. Securities and Exchange Commission building, Friday, June 19, 2015, in Washington
U.S. Securities and Exchange Commission building, Friday, June 19, 2015, in Washington - Sputnik International
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WASHINGTON (Sputnik) - A whistleblower outside the United States has been awarded $4 million for reporting corporate violations of US securities laws, the Securities and Exchange Commission (SEC) disclosed in a press release on Monday.

"The Securities and Exchange Commission today announced that it has awarded nearly $4 million to an overseas whistleblower whose tip led it to open an investigation and whose extensive assistance helped it bring a successful enforcement action," the release stated.

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Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million, the release explained.

The SEC has awarded over $326 million to 59 individuals for information leading to $1.7 billion in monetary sanctions for corporate wrongdoing, the release explained.

Under the program, the SEC withholds names of whistleblowers and targeted companies.

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