In re Securities & Exchange Commission Proposed Whistleblower Rules
- Case Date: 12/17/2010
- Project Name: Criminalization of Free Enterprise - Business Civil Liberties Program
On December 17, 2010, WLF urged the Securities & Exchange Commission (SEC) to revise its proposed rules for implementing a new whistleblower law, before issuing them in final form. In formal comments filed with the SEC, WLF expressed a longstanding interest in the work of the SEC, especially as it pertains to protecting employees, consumers, pensioners, and investors from stock losses caused by abusive securities and class action litigation. But WLF took issue with the SECís new whistleblower program, which threatens to undermine the robust internal compliance safeguards enacted by publicly traded companies following Sarbanes-Oxley. WLF argued that it would be both ironic and counterproductive if, as a result of the SECís new whistleblower program, effective corporate compliance programs were rendered completely superfluous.
|Awaiting SEC action.|
More Information and Downloads:
12/17/2010: Download the Comments
Press Release: SEC Urged To Revise Proposed Whistleblower Rules