SEC Enforcement Advisor: SEC Announces Third Whistleblower Award (with C&F Memo) (with YouTube Video)

The Enforcement Advisor, authored by Brad Bondi, Keith Gerver, and Karen Woody, titled "SEC Announces Third Whistleblower Award," dicusses the SEC announcement of its third-and largest-award under the whistleblower bounty program created as part of the Dodd-Frank. The $14 million award comes roughly four months after the SEC announced its second award, which went to three claimants who had exposed a "sham hedge fund," and a little over a year after its first award, which went to a claimant who stopped a multi-million dollar fraud. As with the claimants for the first two awards, Dodd-Frank confidentiality provisions prevent the disclosure of the identity of the award recipient. Given the magnitude of the award, commentators are calling it a "game changer" and are predicting that it is the "tip of the iceberg" of many more awards to come. The latest award also provides a strong reminder to public companies of the critical importance of establishing and maintaining a tailored compliance and internal reporting program.

YouTube Video: Informational Video from Youtube with Limited Relation to Actual Subject Matter

Click here to view the Cadwalader Enforcement Advisor authored by Bradley Bondi, Keith Gerver, and Karen Woody.