×
Thursday, November 28, 2024

SEC awards $37M to whistleblower who was retaliated against by supervisors - Compliance Week

The Securities and Exchange Commission (SEC) announced its second $37 million whistleblower award in as many weeks with four claimants vying for the payout, but only one reaping the benefits.

The SEC, who keeps the identity of whistleblowers anonymous, said in a press release Friday that the whistleblower reported misconduct internally, which prompted the company to conduct an internal investigation, eventually leading to the company notifying the agency of its findings.

Additionally, the agency acknowledged the whistleblower was retaliated against by their supervisors and other senior employees, “including receiving a negative performance review and a sharply lower bonus than the previous year, despite meeting the performance goals the firm had set,” the SEC said in its order.

THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.

Become a Member

News and analysis for the well-informed compliance or audit exec.

Annual Membership best value

Subscribe now for $365

Our lowest price ($1 per day) for one year.



Read Full Story: https://news.google.com/rss/articles/CBMihQFodHRwczovL3d3dy5jb21wbGlhbmNld2Vl...