InfoBytes Blog
SEC amends whistleblower program rules
On February 10, the SEC announced two amendments to the rules regarding its whistleblower program. According to the SEC, the first proposed amendment concerns award claims for related actions that would be otherwise covered by an alternative whistleblower program. The amendment would allow the Commission to pay whistleblower awards for certain actions brought by other entities, including designated federal agencies, in cases where those awards might otherwise be paid under the other entity's whistleblower program. The second amendment would affirm the Commission's authority under Rule 21F-6 to consider the dollar amount of a potential award for the limited purpose of increasing the award amount, and would eliminate the Commission’s authority to consider the dollar amount of a potential award for the purpose of decreasing an award. Comments are due 60 days after publication of the proposing release on the SEC’s website or 30 days after publication in the Federal Register.