Whistleblower Protections Expanded New Securities And Exchange Commission (SEC) Rules Effective August 12, 2011
SEC whistleblower rules added under the Dodd-Frank Act now in effect will have a significant impact on private and public companies. Companies should become familiar with the new rules and train their management and employees to prevent any unintentional violations of the rules. Background On May 25, 2011, the SEC adopted whistleblower rules contained in Regulation 21F - to implement Section 21F of the Securities Exchange Act of 1934 (Exchange Act). Regulation 21F, which became effective on August 12, 2011, applies to both private and public companies and establishes a process for whistleblower reporting that could award whistleblowers up to 30 percent of the government's recovery if the total recovery exceeds $1 million.
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