July 22, 2020 by Robert Connolly Leave a Comment

On the 10th  anniversary of the Dodd-Frank  Act, which provided the SEC with a whistleblower reward, leading whistleblower attorneys Matt Stock and Jason Zuckerman published an opinion piece on Market Watch titled:  More than 33,000 tips, $2.5 billion in financial remedies and $500 million in awards to investors — the SEC’s whistleblower program turns 10 years old today.  After recounting the success of the program [“…we’ve learned during this time is that there’s strong consensus that the whistleblower-rewards provisions are effective in detecting and combatting fraud and conserving limited public resources”] the article persuasively explains “five ways in which the SEC whistleblower-reward program promotes the public interest:”

1. It protects investors
2. It detects violations, strengthens capital markets and diverts investment resources to more productive uses
3. It conserves precious enforcement resources.
4. Whistleblower rewards strengthen corporate compliance and deter fraud.
5. Incentives compensate whistleblowers for the enormous risk to their career and livelihood.

The short article is well worth the read.

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