November 4, 2010
SEC Weighs In With Proposed Dodd-Frank Whistleblower Rules
The SEC has issued SEC Proposed Dodd-Frank Whistleblower Rules in order to implement Section 21F of the Exchange Act. Section 21F, entitled Securities Whistleblower Incentives and Protection, was enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The SEC is seeking public comments on the proposed rules, which comments are due by December 17. Some commentators believe that the generous bounty provisions of Dodd-Frank will undermine the many corporate compliance programs put in place or strengthened in the wake of Sarbanes-Oxley.
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Definitely one of the most dramatic changes to come from Dodd-Frank. We just posted a great article from Davis Polk on the new rules on the Securities Law Practice Center. Here is a link:
Posted by: Kara O'Brien | Nov 17, 2010 8:44:23 AM