The Securities and Exchange Commission ("SEC") has proposed amendments to the rules governing its whistleblower program, which was previously established in 2010 to incentivize individuals to report tips to the SEC and help the agency detect wrongdoing.
The proposed rules seek to enhance the whistleblower program by providing the SEC with additional tools to expeditiously and appropriately reward those persons who provide critical and meritorious information to the SEC which leads to successful enforcement actions. The proposed rules also include elements to improve the efficiency of the whistleblower claims review process and clarify the requirements for anti-retaliation protection under the whistleblower statute.
For more information see here.
This article was written with contributions by Nabeela Latif.