Legislation to rewrite the Dodd-Frank Act is likely to be voted on in the House this week. But the overhaul envisioned in the Financial Choice Act could have one unintended consequence: a possible rebound in the number of SOX whistle-blower claims filed against companies.
The Financial Choice Act would prevent the Securities and Exchange Commission from awarding “culpable” whistle-blowers that took part in the misconduct they report. The bill would obliterate the SEC’s reasonable approach to culpable whistle-blowers and undermine enforcement efforts at the expense of ordinary Americans and shareholders, Dallas Hammer with Zuckerman Law told Bloomberg BNA.
‘Enforcement 40’ for 2020
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