Top Whistleblower Attorney Sues SEC Over New Rules

Law360 (January 13, 2021, 11:03 AM EST) -- A prominent whistleblower attorney wants to block recent whistleblower rule amendments from the U.S. Securities and Exchange Commission that assert its authority to limit the size of some of the largest award payouts, claiming Wednesday that the new measures will have "devastating effects" on the successful tipster program and that the agency has overstepped its authority.

The SEC's recent changes to its whistleblower rule will have "devastating effects" on the successful tipster program, a prominent whistleblower attorney said in a complaint filed Wednesday. (AP Andrew Harnik) The SEC finalized the rule in September ​​​​​without providing "a reasoned explanation" and with "no...

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