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Whistleblower Awards Could Get Limited as SEC Rethinks Rules (2)

Oct. 17, 2019, 2:44 PMUpdated: Oct. 17, 2019, 3:39 PM

SEC commissioners soon may have more freedom to restrict whistleblower awards.

The Securities and Exchange Commission will vote on whether to adopt whistleblower program changes Oct. 23, according to an Oct. 16 open meeting notice. The Republican-leaning SEC proposed modifications to whistleblower rules along ideological lines in June 2018.

Tipsters get 10% to 30% of the money collected in cases that yield at least $1 million in sanctions against a company under the Dodd-Frank Act. The plan issued last year would give the commission greater liberty to curtail payouts to tipsters whose information leads to cases that draw at...

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