SAN ANTONIO — “Numerous” municipal market participants have queried the Securities and Exchange Commission about bringing muni bond abuses to its attention under a new congressionally mandated program that provides incentives for whistle-blowers, a top SEC enforcement attorney told bond attorneys gathered here Thursday.
Mark Zehner, deputy director of the SEC’s new municipal and public pension fund enforcement unit, said the inquiries come as the commission begins to implement a provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act that requires it to give a percentage of any funds recovered in an enforcement action to individuals who brought the wrongdoing to light.
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