October 30, 2014
By: Jason Canales
Jason Canales was recently quoted in a Law 360 article titled "Lawyers Weigh in on SEC's Record Whistleblower Award." The article concerns the Securities and Exchange Commission's recently announced $30 million dollar whistleblower award. The award was issued by the Commission on September 22, 2014 to an individual living in a foreign country and was the highest whistleblower bounty paid to date. A copy of the Order Determining Whistleblower Award Claim can be found below.
"The $30 million whistleblower bounty paid on Monday by the Commission to an individual living in a foreign country - the highest paid to date - sends a clear message to the public: Tipsters Wanted, Do Not Delay. The $30 million dollar award is quite impressive, but more significant is that the bounty would have been higher had the claimant not delayed in reporting violations of the U.S. securities laws. Through this award, the Commission appears to be encouraging whistleblowers, both foreign and domestic, to come out of the woodwork, and to do so sooner rather than later." Jason Canales