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Hybrid group of professional whistleblowers and insiders on cusp of huge awards

Bruce Carton | August 10, 2016

I have written a lot about the concept of "professional whistleblowers" through the years. Now, the WSJ reports, a new hybrid group of professional whistleblowers and corporate employees is about to get paid massive sums for their efforts to uncover securities law violations in the foreign exchange markets.

Looking back, I pondered in 2010 whether Dodd-Frank might one day spawn "professional whistleblowers," i.e., whistleblowers who were not employees of a company violating the law but rather academics or other third parties who use their talents to identify and alert authorities to such violations. Indeed, Section 922 of Dodd-Frank does not require the whistleblower to be an employee. As stated in this...

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