Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Public sounds off to SEC on proposed whistleblower changes

Joe Mont | September 19, 2018

In June, the Securities and Exchange Commission released a proposal to amend rules that govern its whistleblower program. Now, through letters submitted during the public comment process, we are getting a sense of what the public feels about these suggested changes.

Section 922 of the Dodd-Frank Act added Section 21F to the Securities Exchange Act, establishing the program. It authorizes the SEC to pay monetary awards to eligible individuals who voluntarily provide original information that leads to successful enforcement actions resulting in monetary sanctions of more than $1 million. Awards are made in an amount equal to 10 to 30 percent of the monetary sanctions collected.

One proposed change would allow awards based on deferred prosecution agreements and non-prosecution agreements entered into by the U.S. Department of Justice, a state attorney general in a criminal case, or a settlement agreement with the Commission outside of the context of a judicial or...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.