Click here for answers to frequently asked questions about the SEC's new securities fraud whistleblower program. The new rules will not become effective until 60 days after they've been published in the Federal Register.
Today, the Securities and Exchange Commission (SEC) approved final rules to create a securities whistleblower program to reward individuals who provide the SEC with tips that lead to a successful enforcement action. The new rule will become effective 60 days after they are submitted to Congress or published in the Federal Register. Click here for updated blog posts and information about the new Securities Fraud Whistleblower Program.
On November 3, 2011, the Securities Exchange Commission (SEC) issued proposed rules in an effort to clarify the terms and procedures for recovering rewards under the new securities fraud whistleblower program. The SEC is seeking comments on the proposed rules through December 17, 2010. Please check back for updates and information about the whistleblower program on this blog.
Click here for all securities fraud whistleblower program blog posts.
The Securities and Exchange Commission (SEC) introduced a new securities fraud whistleblower program on July 21, 2010, in an attempt to curb federal securities law violations pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. In an effort to encourage members of the public to report securities law violations, the program offers whistleblowers financial rewards and protection from employer retaliation. To be entitled to an award, which can be as much as 10 percent to 30 percent of the amount collected by the government, eligible whistleblowers must be in compliance with the program's rules and requirements which require that the whistleblower voluntarily provide original information that leads to a successful enforcement action. Under the Act, any whistleblower who wants to file a claim anonymously must be represented by legal counsel. The SEC is expected to issue final regulations for the program within the next 270 days.
Click here for more blog postings about the "Securities Whistleblower Program"
