Wednesday, May 25, 2011
New SEC Whistleblower Rules Provide Added Incentive
According to rules adopted by the Securities and Exchange Commission, whistleblowers won’t be required to report wrongdoing to their employers in order to receive a cash reward.
Under the new rules, the SEC will take voluntary participation in internal compliance programs into account when calculating cash rewards. Consequently, whistleblowers could see their rewards decreased if the agency determines they in any way obstructed the internal process. Employees will be considered whistleblowers as soon as they report information to their employers, as long as they bring the same information to the SEC within 120 days.
Read the entire article, “SEC Approves Whistleblower Rules”
Posted by Qui Tam Admin on 05/25 at 09:29 AM
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