Securities and Exchange Commission: Securities Whistleblower Incentives and Protections
GAO-11-764R, Jun 27, 2011
GAO reviewed the Securities and Exchange Commission's (Commission) new rule on securities whistleblower incentives and protections. GAO found that (1) the final rule implements section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Section 922 directs the Commission to pay awards, subject to certain limitations and conditions, to whistleblowers who voluntarily provide the Commission with original information about a violation of the securities laws that leads to the successful enforcement of an action brought by the Commission that results in monetary sanctions exceeding $1,000,000; and (2) the Commission complied with the applicable requirements in opromulgating the rule.