The Securities and Exchange Commission’s rapid development of its whistle-blower program may well catch criminal activity that falls under the radar. The program sounds great, in theory, but there are several ways its success may harm the agency.
In a sense, the program privatizes enforcement just as the agency is struggling to get more public financing. It also may not add a necessary new incentive to some decent old ones, and it creates a perverse financial motivation for employees at corporations….
‘Enforcement 40’ for 2020
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