⁍ The Securities and Exchange Commission (SEC) on Wednesday will finalize changes to its whistleblower program.
⁍ The changes could deter insiders from flagging corporate fraud and misconduct.
⁍ Whistleblower advocates, lawyers and lawmakers said the changes could deter insiders from flagging corporate fraud and misconduct.
– The SEC is expected to vote Wednesday on changes to its whistleblower program that critics say will make it more difficult for corporate insiders to report fraud, the Wall Street Journal reports. Among other things, the proposed changes would limit awards to certain types of whistleblowers and make it more difficult for whistleblowers to actually file tips with the SEC. According to Reuters, the SEC is expected to walk back a proposal to impose discretionary caps on whistleblower awards and tighten deadlines for formally filing tips when it votes to overhaul the bounty program this week.
Source: https://www.reuters.com/article/us-usa-sec-whistleblowers-exclusive/exclusive-us-regulator-to-abandon-proposed-whistleblower-caps-tighter-tip-deadlines-sources-idUSKCN26D1YT