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Securities and Exchange Commission SEC issued $3 million whistleblower award to individual who voluntarily provided original information that led to a successful SEC enforcement action. Qualified whistleblowers entitled to monetary awards of 10-30% of funds collected by SEC.
As mortgage loan transactions continue to become increasingly complex, lenders often worry about the remedies they have if borrowers fail to live up to their obligations. In the event...
The U.S. Securities and Exchange Commission SEC issued a $400,000 whistleblower award to an individual who provided the agency with information that led to both a successful SEC enforcement action and a Related Action by another federal agency.
SEC issued whistleblower awards totaling approximately $10.4 million in connection with three separate enforcement actions. The awarded whistleblowers each provided the SEC with original information that contributed to the success of an enforcement action.
<p><span>The Commission today issues a Whistleblower Award Determination based on an enforcement action that led to an Order of the Commission making findings of liability and imposing a civil monetary penalty, among other sanctions. Parallel actions were brought, based on the same misconduct, by: 1) a Federal Regulator; and 2) a foreign futures authority (Foreign Regulator). The Commission is approving the Proposed Final Determination of its Claims Review Staff (CRS) that would make an award to Claimant 1 based on the moneta...