Whistleblower Groups Say SEC Reward Plan Falls Short

Law360, New York (December 21, 2010, 5:06 PM EST) -- A coalition of unions and plaintiffs groups is warning that the U.S. Securities and Exchange Commission does not plan to work closely enough with whistleblowers who tip off the agency to securities law violations through a proposed reward program.

In comments submitted to the SEC on Friday, a number of plaintiffs-side employment law groups and labor unions raised concerns that the agency’s proposed rules for whistleblowers under the Dodd-Frank Wall Street Reform and Consumer Protection Act do not ensure the regulator will fully take advantage of...
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