SEC Adopts Final Rules to Establish Whistleblower Program
The Dodd-Frank Wall Street Reform and Consumer Protection Act adopted in July 2010 added a new Section 21F to the Securities Exchange Act of 1934, entitled “Securities Whistleblower Incentives and Protection.” On May 25, 2011, the Securities and Exchange Commission adopted final rules implementing the provisions of Section 21F. The final rules go into effect August 12, 2011.
Partners Stephen M. Goodman, a member of Pryor Cashman’s Corporate Group, and Robert W. Ray, a member of its Litigation Group, have authored an informative Legal Update describing the final rules and recommending certain steps which should be taken to enhance internal compliance programs in the wake of their adoption.
To read the update, entitled "SEC Adopts Final Rules To Establish Whistleblower Program," please click here.
