The Problem With SEC's Plan To Cap Whistleblower Awards
By Stephen KohnJuly 10, 2018, 1:38 PM EDT
Law360 (July 10, 2018, 1:38 PM EDT) -- On June 29, 2018, the U.S. Securities and Exchange Commission held a public meeting in which it unveiled a proposal amending the regulations it had approved in 2011 governing the SEC’s Dodd-Frank Act whistleblower program. Publicly opposed by two of the five commissioners, the central feature of the proposed amendments targets whistleblower compensation and seeks to reduce payments to whistleblowers in the largest anti-fraud cases.
In the eight years since the passage of the Dodd-Frank Act, the SEC has paid only three awards above the $30...