Dodd-Frank Whistleblower Program Has Produced Higher Quality Tips, SEC Says

NEW YORK—The quality of tips and complaints asserting securities law violations received by the Securities and Exchange Commission has materially improved since the establishment by statute of an agency whistleblower program, SEC officials said during a New York City Bar Association event Nov. 2-3.

Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. No. 111-203) established an SEC whistleblower program that grants financial awards to qualified individuals who present original information to the SEC resulting in penalties and other sanctions totaling $1 million or more. The law was enacted July 21, 2010; ...