SEC Denies Another Whistleblower Claim

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The SEC has denied granting an award to another whistleblower in the second action of this year.  The SEC determined that the whistleblower did not provide any “original information.”   Under Rule 21F-4(b)(1)(iv), information will be considered “original information” only if it was provided to the Commission for the first time after July 21, 2010.   The SEC is not saying the information wasn’t helpful, it was just provided before the Dodd-Frank Act.  So the last couple of actions do not really portray a trend  as to how the SEC will ultimately interpret the term “original information.”  Sometimes the early bird doesn’t get the worm I guess.