Implementing The SEC Whistleblower Program

Law360, New York (January 31, 2011, 5:19 PM EST) -- On July 21, 2010, President Barack Obama signed the Wall Street Reform and Consumer Protection Act into law. The Wall Street Reform Act includes a provision that mandates reward payments by the U.S. Securities and Exchange Commission to whistleblowers who offer information about securities law violations.[1]

The Wall Street Reform Act gives the SEC a deadline of April 15, 2011, to implement the reward program, which is codified in Section 21F of the Securities Exchange Act of 1934. On Nov. 3, 2010, the SEC published proposed...
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