SEC Whistleblower Reward Program Goes into Effect August 12

The SEC Whistleblower Reward Program signed into law last year under theDodd-Frank Wall Street Reform and Consumer Protection Act is effective as from today, August 12, 2011.

As the U.S. economy continues to struggle, compounded by a lowered Standard & Poor’s rating that sent the New York Stock Exchange and European markets spiraling, corporate whistleblower cases are likely to increase as corporations try to tighten budgets and cut costs.

The SEC will now begin rewarding those whistleblowers who come forward with information regarding securities laws violations at public companies.

Related articles

• SEC Adopts Favorable Rules for Whistleblowers(employmentlawgroupblog.com)
• SEC adopting new system of whistleblower awards(seattletimes.nwsource.com)
• SEC whistleblower chief pushes back at critics (marketwatch.com)

Tagged: Dodd-Frank Act, Enforcement Bodies, Securities and Exchange Commission (SEC), Whistleblower Laws (Federal)