Crowell & Moring

The SEC announced last week that it is poised to pay out a record breaking $30-35 million award to a whistleblower. The previous record payment was $14 million, and most of the payouts under the Dodd-Frank Act’s bounty provisions have been well under $1 million. This latest award should serve as a wake-up call to any employers who thought the SEC’s whistleblower program was a lot of bark without a lot of bite. A full discussion of the announcement is available here.