A Republican proposal to bar whistle-blowers who participated in the misconduct they report from collecting a bounty could harm SEC enforcement efforts, whistle-blower lawyers told Bloomberg BNA.
Allowing wrongdoers to obtain a whistle-blower award isn’t “ideal,” former Securities and Exchange Commission whistle-blower chief Sean McKessy told Bloomberg BNA. However, he said, with the inducement, enforcers can use the “little fish” to get the “big fish” in securities law violations.
‘Enforcement 40’ for 2020
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