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

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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.

    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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    Tags:
    award, prosecution, whistleblower, US Securities and Exchange Commission (SEC), United States
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