UK billionaire allegedly gave material non-public information about several companies to friends, his personal pilots, assistants, and romantic partners
If approved, the amendments would give listed companies until December 1, 2023 (60 days after the effective date of the rules) to adopt a compliant Dodd-Frank clawback policy.
This award is more than double the largest award in the amount of $114 million, which was issued in October 2020. To date, the SEC has awarded more than $1.5 billion to whistleblowers since the inception of its whistleblower program in 2011.
New rules require domestic issuers, foreign private issuers FPIs except those that file pursuant to Multijurisdictional Disclosure System, and registered closed-end management investment companies to provide additional share repurchases disclosures on behalf of the issuer.