Markopolos, representing himself, voiced concern about proposed “interpretive guidance” that says independent analysis must go “beyond what would be reasonably apparent to the commission from publicly available information” in order to be worthy of a whistleblower award.
That proposed change, Markopolos said, could allow the SEC, with the benefit of “20/20 hindsight,” to stiff an outside analyst on the grounds that the agency could or would have detected the fraud itself based on publicly available information.
via Madoff Tipster Has Some Big Concerns About SEC’s Whistleblower Proposal | National Law Journal.
