USA: SEC proposes new whistleblower programme under the Dodd-Frank Act

The Securities and Exchange Commission has published proposed rules under Section 922 of the Dodd-Frank Wall Street Reform Act for a whistleblower program to reward individuals who provide the SEC with information leading to successful enforcement actions: see here (rule proposal, pdf) or here (press release/fact sheet). According to the press release:

To be considered for an award, a whistleblower must voluntarily provide the SEC with original information about a violation of the federal securities laws that leads to the successful enforcement by the SEC of a federal court or administrative action in which the SEC obtains monetary sanctions totaling more than $1 million.