SEC awards $6 million to joint whistleblower

On April 22nd, according to the official website of the Securities Exchange Commission (SEC), the SEC issued a reward of about 6 million US dollars to the joint whistleblower who provided key information, facilitated the launch of the investigation and assisted in the enforcement action. The reward comes from the Investor Protection Fund composed of fines for violations, which complies with the whistleblower reward mechanism stipulated in the Dodd-Frank Act. The identity of the whistleblower will continue to be protected by confidentiality.