Opposing advocacy groups have unleashed new demands on the Securities and Exchange Commission in recent weeks, urging the agency to pay more attention to potential problems associated with new whistleblower rules.
The groups’ concerns stem from new rules created through the enactment of the Dodd-Frank Financial Reform Bill earlier this year. The new legislation has expanded existing whistleblower rules from just insider trading to a broad range of activities at both public and private firms. At the same time, the legislation also sweetened the financial incentive for those raising concerns, with the potential to reap from 10% to 30% of penalties of $1 million or more.
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