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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