The Securities and Exchange Commission wants to pay fraud informants as much as 30% of the amount that investigators recover.
David M. Katz, CFO.com | US
November 29, 2010
Based on my experience as a Sarbanes-Oxley whistle blower, these offers are empty. The SEC proposed rules practically require the corporate compliance officers to construct termination for all the interested parties prior to permitting an SEC investigation. My experience is that the Department of Labor, the Department of Justice, and the SECrecy Agency have little to no interest in helping whistleblowers. Expect them to let the corporation drive the whistleblower into legal fee bankruptcy. They've had a reward program for whistleblowers for years and no one has ever been paid.
Posted by Joe Jefferis | December 01, 2010 11:10 am© CFO Publishing Corporation 2009. All rights reserved.