SEC Adopts Final Rules Establishing Whistleblower Program

July 2011

On May 25, 2011, the SEC adopted final rules to implement a whistleblower program as established by the Dodd-Frank Act. The whistleblower program requires the SEC to pay awards to eligible whistleblowers who voluntarily provide the agency with original information about a violation of the federal securities laws that leads to a successful enforcement action in which the SEC obtains monetary sanctions totaling more than $1 million.

This A Closer Look describes the final rule and its impact.