Are Whistleblower Bounties A Good Policy?

Law360, New York (June 16, 2010, 12:01 PM EDT) -- Under a provision in financial overhaul legislation now before Congress, whistleblowers could receive hefty cash bounties for providing original information to the U.S. Securities and Exchange Commission in Foreign Corrupt Practices Act and securities fraud cases.

The Restoring American Financial Stability Act, Senate Bill 3217, would allow whistleblowers to claim 10 percent to 30 percent of any penalty greater than $1 million — including those assessed by the U.S. Department of Justice and other agencies in related actions. The size of those bounties could add up...
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