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I don't see how whistleblower identity matters as long as the information and the validity of it is vetted by the SEC. The only use for that information I can t
by 2fafbbe1f54ee2c 6y ago
I don't see how whistleblower identity matters as long as the information and the validity of it is vetted by the SEC. The only use for that information I can think of would be to retaliate, which would go against the whole principle of having a whistleblower program in the first place.
> Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.
It looks like they not only vet the information, but also provide awards based on the results of successful enforcement. Not only that, but also
> All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators. No money has been taken or withheld from harmed investors to pay whistleblower awards.
The funds come from successful enforcement and harmed parties aren't paying for it (neither are the taxpayers, given that it's essentially a "finder's fee" on criminally-acquired funds).
As for the whistleblowed-on company, I can definitely see a case to expose that information so that we can know who the rotten ones really are.