SEC Proposes Dodd-Frank Whistleblower Program

Law360, New York (November 3, 2010, 5:04 PM EDT) -- The U.S. Securities and Exchange Commission on Wednesday proposed a rule that would reward whistleblowers who tip off the agency to securities law violations.

The rule would implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act authorizing cash rewards for whistleblowers who point the SEC to information that results in a successful securities law prosecutions.

According to the SEC, the agency will extend rewards to anyone who voluntarily provides original information about a securities law violation that leads to SEC enforcement actions involving...
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