A divided Securities and Exchange Commission narrowly approved rules on Wednesday to create a $300 million whistle-blower program.
Supporters of the program said it would help the agency crack down on wrongdoing, but opponents contend it would actually hamper the ability of companies to police themselves.
The final rules, which were approved by a 3-to-2 vote, included several changes from rules first proposed by the S.E.C. last year after passage of the Dodd-Frank regulatory law that provided for the program. One of the changes included a potential bonus if corporate employees first report suspected wrongdoing through their company’s internal compliance system.
See full Article.
Posts
