• Dodd-Frank Act Tempts Securities and Commodities Law Whistleblowers with Lucrative Cash Bounties, Highlighting the Need for Effective Compliance Procedures
  • October 28, 2010
  • Law Firm: Skadden Arps Slate Meagher Flom LLP - New York Office
  • The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), a sweeping overhaul of the U.S. financial sector, recently passed both houses of Congress and was signed into law by President Obama on Wednesday, July 21, 2010. Dodd-Frank enhances the SEC’s regulatory and enforcement authority in many ways. One important provision, which may have an immediate impact on the SEC’s enforcement activity, provides the SEC with vast new authority to pay bounties to whistleblowers who provide information regarding violations of the securities laws.