SEC Debates Whistleblower Awards Under Dodd-Frank Act

The Securities and Exchange Commission held a meeting this past Wednesday concerning the implementation of the whistleblower provisions of the Dodd-Frank Act. Under that law, whistleblowers providing information leading to successful enforcement actions can receive between 10-30 percent of the monetary sanctions imposed. Industry representatives expressed concerns that the SEC would be swamped with fraud allegations which would stress its resources. The hearings will continue