August 14, 2022

AndronETalksNews

AndronETalksNews

SEC Temporarily Reverses Two Rules Amid Fears They Could Scare Off Potential Whistleblowers

Sputnik

by

The whistleblower programme, where an employee could report financial abuses by the company they are working at, has been highly successful since its introduction in 2011. Yet, its effectiveness was endangered by two recent amendments to rules about rewarding whistleblowers for stepping forward.

The Securities and Exchange Commission (SEC) has paused the application of two amendments adopted in September 2020 to its whistleblower programme out of concerns they might scare off people potentially ready to report abuses in their companies. The SEC plans to review these two amendments and might change them in the future, but, for now, the commission has decided to exempt whistleblowers from their effects.

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