A whistleblower who provided the US Securities and Exchange Commission with information that led to a successful enforcement action lost his bid for a monetary award because he’d been convicted in a related action, the Second Circuit said.
The whistleblower, known as John Doe, failed to timely raise the argument that he hadn’t been “convicted” when the SEC denied the award, the US Court of Appeals for the Second Circuit said in an unpublished summary order. The argument wouldn’t have succeeded even if he’d made it in an earlier agency proceeding, the court said.
Additionally, the agency didn’t abuse its ...
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