A compliance officer has blown the whistle on his (or her) own company, and is set to receive a $1.4 million to $1.6 million reward from the SEC.

The award involves a compliance officer who reached out to the SEC, preventing "imminent misconduct" that could have harmed the company and/or investors, according to The Securities and Exchange Commission.

“This compliance officer reported misconduct after responsible management at the entity became aware of potentially impending harm to investors and failed to take steps to prevent it," said Andrew Ceresney, director of the SEC’s division of enforcement, in a prepared statement.

Compliance officers blowing the whistle on their own employers appears rare. Only one other internal audit or compliance-focused employee has received a payout from the SEC whistleblower program since it was launched in 2011, the commission said. Overall, the program has paid roughly $50 million in total to 16 whistleblowers since 2011, the commission added.

The SEC does not disclose whistleblower and employer names.

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