SEC Vote on Controversial Changes to Whistleblower Program Set for Tomorrow
Tomorrow, the Securities and Exchange Commission (SEC) will meet at 10 a.m. to vote on controversial proposed rules that will determine the future for many eligible SEC whistleblowers.
“Since the passage of the Dodd Frank Act, the SEC Whistleblower Program has been the most successful reward system in America,” said whistleblower attorney Stephen Kohn, partner at the qui tam law firm Kohn, Kohn & Colapinto (KKC). “Tomorrow’s vote could devastate the integrity of the program, disqualify many whistleblowers, and open the door for fraudsters.”
Kohn detailed the potential harmful changes in articles published by The Hill and Law360. He will be explaining the impacts of the vote within hours of the announced results.
The SEC Whistleblower Program has issued over $520 million to whistleblowers since 2012, recovering $2.5 billion in fines and returning $750 million to harmed investors.
The SEC has canceled the vote on the proposed rules two times, and has reviewed the changes for over two years.
KKC has filed numerous comments to the SEC since the announcement of the proposed rules in 2018. These comments, along with key articles, frequently asked questions (FAQs), and other letters submitted by members of Congress and whistleblower advocates are all available on the SEC Whistleblower Rules resource page.
Mr. Kohn is available for interviews. Contact [email protected] for further questions.
