DC Circ. Denies SEC Bounty To Pre-Dodd-Frank Whistleblower

By Katryna Perera (May 27, 2022, 9:02 PM EDT) -- The D.C. Circuit on Friday sided with the U.S. Securities and Exchange Commission and said the commission was correct to deny a whistleblower award to a former broker for the now-defunct Bear Stearns Companies Inc. who claims he helped the government prosecute a fraud before the passage of the Dodd-Frank Act.

D.C. Circuit Judge Karen LeCraft Henderson wrote the opinion and said appellant Eugene C. Ross failed to satisfy one of the statutory requirements for whistleblower award eligibility.

Ross had argued that he voluntarily provided original information to the SEC that led to a successful enforcement action against Amerindo Investment Advisors Inc....

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