Assessing the SEC’s whistleblower program after three years in action

Lawyers' Forum

By Eric Fogel and Vic Peterson

Eric Fogel is co-chair of SmithAmundsen’s corporate practice group and has more than 28 years of experience counseling clients in general corporate, securities, tender offers and proxy battles, mergers and acquisitions, corporate governance and financing.

Vic Peterson is a partner in SmithAmundsen’s corporate practice group and concentrates in the same practice areas.

Posted August 25, 2014 2:48 PM

The U.S. Securities and Exchange Commission’s whistleblower program took effect three years ago on Aug. 12, 2011. It was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted just more than four years ago on July 21, 2010. Under the whistleblower program, an individual who voluntarily reports to the SEC original information about a possible violation of U.S. securities laws which leads to a successful SEC enforcement action resulting in monetary sanctions of more than $1 million is …

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