The Securities and Exchange Commission (SEC) cancelled a meeting in October to consider controversial changes to its whistleblower program. Clearly, the agency is reconsidering, but Stephen M. Kohn, chair of the National Whistleblower Center, predicts we won’t see any details until 2020.
Kohn argues that the proposed changes would destroy the program by discouraging whistleblowers from coming forward. When asked by a writer from the Corporate Crime Reporter how he feels about possible amendments to SEC’s proposals, Kohn had this to say:
“I’m on a wait and see on the outcome. The devil is in the details. They can meet us halfway. But on some of these, halfway is a disaster. But we will fight to the end. If the outcome is bad, we will litigate it and we will take it to Congress.”
However, he did say that the postponement of the decision suggests SEC staff are listening to what the NWC has to say. Kohn his team met with them several times and brought along emails and signature from 110,000 people.Continue Reading Don’t expect changes to SEC whistleblower program until 2020