The steady stream of SEC whistleblower awards continues, as the SEC has paid $300,000 to its tenth whistleblower. The individual, whose anonymity has been preserved, is the first whistleblower to receive an award for providing information gained while working in an audit and compliance capacity. Under the SEC whistleblower statute, in order for an individual with audit and compliance functions to be considered a proper whistleblower, they must first report internally and allow the company 120 days to take action on the information. In this instance, the whistleblower reported information internally, and provided information to the SEC only after his or her company failed to remedy the situation. The whistleblower was awarded 20% of any recoveries the SEC obtains.

Read the SEC Press Release,“SEC Announces $300,000 Whistleblower Award to Audit and Compliance Professional Who Reported Company’s Wrongdoing” Read the SEC order