How Dodd-Frank’s whistle-blower rules put you in the crosshairs

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in Employment Law,Human Resources

by Russell E. Adler, Esq.

The Dodd-Frank Wall Street Reform and Consumer Pro­te­ction Act, passed in the wake of the financial crisis, enacts significant reforms to the financial system. HR professionals need to become familiar with the law’s whistle-blower and anti-retaliation provisions.

Incentives for whistle-blowers  

Dodd-Frank provides powerful financial incentives to employees and other potential whistle-blowers who voluntarily report suspected violations of the federal sec­urities laws to the Securities and Exchange Commission (SEC).

If the SEC brings a successful enforcement action resulting in sanctions of $1 million or more, the whistle-blower will receive between 10% and 30% of the total monetary sanction. Whistle-blowers can bypass their company’s internal reporting and compliance policies and go directly to the SEC.

A whistle-blower is defined as someone who provides the SEC with information about a possible vi...(register to read more)

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