Securities
Jul. 21, 2011
SEC issues final rules to implement Dodd-Frank whistle-blower provisions
New rules incentivize employee whistle-blowers to bypass their company's internal reporting system and go directly to the SEC. By Terree A. Bowers of Arent Fox LLP
On May 25, by a 3-2 vote, the Securities and Exchange Commission (SEC) adopted final rules that significantly impact the role of internal corporate compliance programs. The rules implement the whistle-blower provisions in Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 922 requires the SEC to pay rewards of 10 to 30 percent of monetary sanctions obtained, as long as total sanctions exceed $1 million, to in...
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