SEC Proposes Amendments to the Rules Governing its Whistleblower Program

Posted on November 1st, 2018 at 11:25 AM
SEC Proposes Amendments to the Rules Governing its Whistleblower Program

From the Desk of Jim Eccleston at Eccleston Law LLC:


The SEC’s whistleblower program has been an important tool for individuals since 2011. The awards are distributed from an investor protection fund established by Congress. To obtain an award, the whistleblower’s information must be unique, useful and lead to a successful enforcement action. 

After nearly seven years of experience administering the whistleblower program, on June 28, 2018, the SEC proposed amendments to the rules governing its whistleblower program.  The proposed rules would, among other modifications, authorize upward adjustments of whistleblower awards, eliminate double recoveries, clarify the scope of Dodd-Frank whistleblower protections, and foster efficiency in the whistleblower claims review process.

Following its announcement, the SEC requested that the public submit comments, and concerns pertaining to the proposed whistleblower program amendments. The proposed rules were open for comment through September 18, 2018, and more than 100 individual comments were filed before the deadline.

The SEC currently is reviewing all public comments and will take them into consideration when attempting to implement its various amendment proposals.

Eccleston Law, LLC helps individuals file and document their SEC whistleblower claims while maintaining confidentiality. Please contact us for further information.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, SEC, fraud, whistleblower program

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