GM to incur more than USD 5 billion in charges on China operations – MarkLines
Recently, the Securities and Exchange Commission (SEC) has announced new amendments aimed at enhancing its whistleblower program. The changes include clarifications on the definition of a whistleblower and the procedures for handling tips and complaints.
One of the key updates is the clarification that a whistleblower must report information directly to the SEC to be eligible for protection under the whistleblower program. This ensures that individuals who report potential violations internally within their organizations are not left out of the program’s protections.
Additionally, the SEC has emphasized the importance of timely reporting by whistleblowers. The new rules allow for a 30-day grace period after internal reporting to still be considered timely if the whistleblower then reports the information to the SEC.
Furthermore, the SEC has introduced a provision that allows for the possibility of awarding a single whistleblower multiple awards in certain circumstances. This change is designed to incentivize whistleblowers to continue providing valuable information to the SEC.
Overall, these amendments aim to strengthen the SEC’s whistleblower program and encourage individuals to come forward with information about securities violations. By providing clarity on the rules and enhancing protections for whistleblowers, the SEC is working to maintain the integrity of the securities market and protect investors.
