SEC Report Shows Slow Start To Whistleblower Program

Law360, New York (November 16, 2011, 9:15 PM EST) -- The 334 tips received by the U.S. Securities and Exchange Commission since the enactment of its whistleblower program is a far cry from the thousands of complaints of corporate malfeasance the regulator expected, but a report Tuesday shows the fledgling program has encouraged complaints from far-flung places and that the number is just the tip of the iceberg, lawyers say.

“They were expecting almost 30,000 a year,” said Mike Delikat, chair of the employment practice at Orrick Herrington & Sutcliffe LLP, noting that at this rate...
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