SEC's Suggestion Box Is Out For Whistleblower Rules

Law360 (November 24, 2010, 12:57 PM EST) -- On Nov. 3, the U.S. Securities and Exchange Commission released its proposed rules to implement the whistleblower program established by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Generally speaking, the whistleblower program requires the SEC to pay an award or bounty to eligible whistleblowers who voluntarily provide original information about a violation of securities laws which then leads to a successful enforcement action. If the SEC recovers more than $1 million through penalties, fines or disgorgement of gains, the eligible whistleblower can receive between 10 to 30 percent of the recovery....

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