business2 years ago
"Ericsson Tipster Receives Record $279 Million Whistleblower Award from SEC"
The US Securities and Exchange Commission (SEC) has awarded a record $279m to a whistleblower who provided information leading to a successful enforcement action against Ericsson. The Swedish telecoms company was found to have violated the Foreign Corrupt Practices Act by bribing officials in multiple countries. The award is the largest ever given by the SEC's whistleblower programme, which was established in 2011 to incentivise individuals to report fraud and other securities violations.