D.C. Circuit Upholds SEC Denial of 1 Whistleblower Award
Updated
Updated · Bloomberg Law · Sep 11
D.C. Circuit Upholds SEC Denial of 1 Whistleblower Award
3 articles · Updated · Bloomberg Law · Sep 11
Summary
A federal appeals court rejected a former employee’s bid to overturn the SEC’s refusal to grant a Dodd-Frank whistleblower award.
More than 1 year passed before the employee sent information directly to the SEC, and the court said the submission was duplicative and did not help drive the enforcement action.
That meant the tip failed Dodd-Frank’s requirement that original information provided to the commission lead to a successful SEC case.
The ruling leaves the SEC’s award denial in place and underscores that delayed or repetitive submissions may not qualify for whistleblower payouts.