(Bloomberg) -- The US Securities and Exchange Commission is awarding more than $37 million to a whistleblower whose information contributed to a successful SEC enforcement action.
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The SEC said the whistleblower was the initial source of a company’s internal investigation, and the source for investigations by the commission and another agency. In line with the SEC’s policy, the regulator didn’t disclose details about the case.
Congress established the SEC whistleblower program after the financial crisis, and the agency has paid out more than $1 billion since issuing its award in 2012.
Whistleblowers are eligible for awards ranging from 10% to 30% of the amount of money collected in enforcement cases where penalties exceed $1 million.
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