Tomorrow, May 25th at 9:30 a.m. EST, the Securities and Exchange Commission (SEC) will meet to vote on its final rules for the whistleblower provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rules will directly relate to the new "bounty" provisions in the Securities Exchange Act, which requires the SEC to pay whistleblower rewards. You can watch the SEC meeting live online by clicking here.
Stephen M. Kohn, NWC Executive Director, issued the following statement:
Early indications are that the SEC will bow to corporate pressures and cut Dodd-Frank whistleblower protections off at the legs. We hope we are wrong.
Stayed tuned for our full comments once the final rules have been released.