The most significant breakthrough in the Dodd-Frank Act concerned securities and commodities frauds. Trading in securities and commodities covers most of the publicly traded companies in the entire world. Thus, under the Dodd-Frank Act reforms, most of the worldwide publicly traded economy is now covered under a whistleblower reward program, and for those employees within the United States, a strong anti-retaliation law also provides protection for employees in the publicly traded economy.
For whistleblowers under the Securities and Exchange Act, the Commodity Exchange Act and the Foreign Corrupt Practices Act, the Dodd-Frank Act created enhanced provisions to protect the confidentiality of whistleblowers, and also permits Dodd Frank whistleblowers to anonymously file reward claims.
Moreover, because the Foreign Corrupt Practices Act is incorporated into the SEC’s securities regulatory scheme, the international whistleblowers who provide information on foreign bribery covered under the FCPA are also entitled to a financial reward.
Finally, both the Securities and Exchange Commission and the Commodity Futures Trading Commission were required to pay qualified whistleblowers a reward of between 10-30% of all proceeds collected based on the whistleblowers original information. If a reward was denied, the whistleblower could challenge the denial in court.