Daily Archives: September 23, 2020, 4:09 pm

‘A Sleight of Hand’: Whistleblower Lawyers Recoil at SEC’s New Rules | Law.com

Whistleblower advocates voiced alarm Wednesday over the U.S. Securities and Exchange Commission asserting broad discretion to lower awards for tipsters who assist with investigations, saying the agency’s move threatens to undermine a program that has been hailed as a “game changer” for the agency’s enforcement efforts. via ‘A Sleight of Hand’: Whistleblower Lawyers Recoil at SEC’s New Rules | Law.com.

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SEC Adds Clarity, Efficiency and Transparency to Its Successful Whistleblower Award Program

Among other enhancements, the amendments provide a mechanism for whistleblowers with potential awards of less than $5 million (which historically have represented nearly 75% of all whistleblower awards), subject to certain criteria, to qualify for a presumption that they will receive the maximum statutory award amount.  Other awards will continue to be evaluated consistent with past practice. The amendments also…

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