Dodd-Frank Act’s Whistleblower Bounty Provision – A Primer (2011) resource Articles OCEG Reviewed
Summary: The Dodd-Frank Act changed the incentive structure for corporate whistleblowers by creating a cash reward for tips made by whistleblowers directly to the SEC. Because Dodd-Frank does not require whistleblowers to use companies’ internal reporting mechanisms before going to the government, the new bounty raises many questions regarding the fate of internal compliance programs.
SEC, Securities Whistleblower Incentives and Protections (2011, Final Rule) resource National Regulations OCEG Reviewed
Summary: The Commission is adopting rules and forms to implement Section 21F of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) entitled ‘‘Securities Whistleblower Incentives and Protection.’’ The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted on July 21, 2010 (‘‘Dodd- Frank’’), established a whistleblower program that requires the Commission to pay an award, under re
DOL / OIG Hotline Web Site resource Agency Web Sites OCEG Reviewed
The OIG operates a hotline to receive and process allegations of fraud, waste, and abuse concerning DOL grants, contracts, programs and operations. The OIG also addresses allegations of criminal activity and serious misconduct involving DOL employees.
SEC, Office of the Whistleblower Website resource Agency Web Sites OCEG Reviewed
On July 21, 2010, the President signed into law the "Dodd-Frank Wall Street Reform and Consumer Protection Act" (the "Act"). Among other things, the Act establishes a whistleblower program that enables the SEC to pay an award, under regulations prescribed by the SEC and subject to certain limitations.
SEC, Memorandum: File on S7-33-10, Proposed Rules for Implementing the Whistleblower Provisions of Section 21F of the Securities Exchange Act of 1934 (2011) resource OCEG Reviewed
From: Christian L. Broadbent, Counsel to Commissioner Elisse B. Walter
Meeting with members and representatives of National Whistleblowers Center (“NWC”) The agenda and other materials submitted are attached to this Memorandum.
Date: March 16, 2011
BoardroomDirect -- Alert: SEC issues final whistleblower rules (PwC, 2011) resource Books / Publications OCEG Reviewed
This special edition of PwC's BoardroomDirect notifies corporate directors and management that the SEC issued its final rules for the whistleblower provisions contained in the Dodd-Frank Wall Street Reform and Consumer Protection Act. The final rules were approved by the SEC at its meeting on May 25, 2011.
SEC Adopts Final Rules on Dodd-Frank Whistleblower Program (June 2011) resource Articles OCEG Reviewed
On May 25, 2011, the U.S. Securities and Exchange Commission (SEC) adopted final rules (the "Rules") for the expanded whistleblower program established by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).
Regulatory Intelligence by Michael Rasmussen: an Axentis Thought Leadership White Paper resource White Papers Member contributionOCEG Reviewed
"The old paradigm of regulatory change management is clearly a recipe for disaster given the volume, pace of change
Increased motivation for whistle-blowing (2010) resource Articles OCEG Reviewed
Introduction: New statutory and regulatory changes provide greater rewards to individuals who blow the whistle on fraudulent activities and to organizations that actively encourage an effective ethical culture – important steps at a time when the rate of fraudulent financial activity is likely to increase.
Whistleblower Protection: Sustained Management Attention Needed to Address Long-standing Program Weaknesses (GAO, 2010) resource Research / Studies OCEG Reviewed
Summary - Workers who "blow the whistle" on prohibited or unlawful practices that they discover during their employment can play an important role in the enforcement of federal laws. However, these whistleblowers may also risk reprisals from their employers, sometimes being demoted, reassigned, or fired.