Today, the SEC approved long-awaited final rules establishing an SEC whistleblower program developed in response to a directive in the Dodd-Frank Wall Street Reform and Consumer Protection Act. In an earlier FraudMail Alert, we noted significant ways in which the SEC’s whistleblower program as originally proposed differed from the whistleblower provisions in the civil False Claims Act, and we expressed the hope that many of the whistleblower abuses allowed under the FCA would be avoided under the SEC’s program. See FraudMail Alert No. 10-12-08. The firm’s Securities Enforcement and Regulation group prepared a summary of the final rules adopted by the SEC today, which will be of interest to FraudMail subscribers. See SecMail Alert No. 11-05-25.
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