SEC Commissioner Requires Much less Secrecy in Whistleblower Awards

The SEC’s choice on Friday to reverse Trump-era restrictions on its whistleblower program divided the five-member physique, with its latest member citing considerations about this system’s secrecy that had been outlined in a current Bloomberg Regulation investigation.

“The Whistleblower Program has come beneath growing scrutiny from some on the idea that it operates with an absence of transparency. These considerations are comprehensible, on condition that the Whistleblower Program has paid out greater than $1.1 billion in awards since inception from funds that may have in any other case benefitted taxpayers,” Securities and Trade Commissioner Mark T. Uyeda wrote in an announcement.