What Companies Should Know about Whistleblowers

Lawyers described five compliance measures to minimize risk when responding to whistleblowers.

In a Bloomberg Law article, lawyers reminded companies that the SEC's Whistleblower Program is "alive and well," highlighting a recent $50 million whistleblower award. To minimize risk and promote best practices, the attorneys advised companies to:

1. avoid retaliating against or cutting off contact with a whistleblower;

2. encourage internal reporting;

3. be proactive and get ahead of the investigation;

4. keep a paper record; and

5. regularly review and update compliance practices.