SEC, FINRA Promise Beefed Up Whistleblower Units

Law360, New York (March 5, 2009, 12:00 AM EST) -- Still reeling from revelations that they ignored repeated whistleblower complaints that could have put a stop to Bernard L. Madoff's alleged $50 billion Ponzi scheme, both the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority announced Thursday that they were revamping their mechanisms for handling enforcement tips.

In a statement, the SEC announced that the Center for Enterprise Modernization, a federally funded research and development center operated by The Mitre Corp., would begin a top to bottom review of the commission's internal evaluations...
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