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SEC awards $300K to whistleblower with audit responsibilities


The Securities and Exchange Commission said Monday it has awarded more than $300,000 to a whistleblower with audit-related responsibilities, marking only the fourth time the agency has paid a whistleblower with internal audit or compliance-related responsibilities.

The SEC does not disclose the names of whistleblowers, nor of their company.

The SEC said the whistleblower, whose high-quality information and continuing assistance significantly contributed to a successful enforcement action, became aware of the potential securities law violations in connection with audit-related responsibilities

The SEC said that although individuals with audit or compliance responsibilities are generally not eligible for awards, a whistleblower who reasonably believes an entity is engaging in conduct that would impede the agency’s investigation falls within one of the exceptions to that rule.

In this case, the whistleblower had a “reasonable basis” to believe the entity would impede its investigation, the SEC said in its statement.