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SEC adopts final rules on Dodd‐Frank Whistleblower Program

SEC adopts final rules on Dodd‐Frank Whistleblower Program Purpose – Recently, the US Securities and Exchange Commission (SEC) adopted final rules for the expanded whistleblower program established by the Dodd‐Frank Wall Street Reform and Consumer Protection Act. The rules raise challenging issues, perhaps the most significant being their impact on existing compliance and corporate governance procedures. This paper seeks to examine this issue. Design/methodology/approach – The paper analyzes the final rules and their impact on public companies. Findings – Publicly listed entities have cause for concern that their existing compliance programs may be bypassed by whistleblowers who now have strong incentives to place personal interests ahead of loyalties to employers. Practical implications – Companies need to improve their compliance programs to limit the potential hazards. Originality/value – The proffered “steps to potentially minimize Dodd‐Frank whistleblowers” can help publicly traded companies – and particularly multinational enterprises subject to the Foreign Corrupt Practices Act – to avoid the significant risks that Dodd‐Frank presents to them. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Investment Compliance Emerald Publishing

SEC adopts final rules on Dodd‐Frank Whistleblower Program

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Publisher
Emerald Publishing
Copyright
Copyright © 2011 Emerald Group Publishing Limited. All rights reserved.
ISSN
1528-5812
DOI
10.1108/15285811111172286
Publisher site
See Article on Publisher Site

Abstract

Purpose – Recently, the US Securities and Exchange Commission (SEC) adopted final rules for the expanded whistleblower program established by the Dodd‐Frank Wall Street Reform and Consumer Protection Act. The rules raise challenging issues, perhaps the most significant being their impact on existing compliance and corporate governance procedures. This paper seeks to examine this issue. Design/methodology/approach – The paper analyzes the final rules and their impact on public companies. Findings – Publicly listed entities have cause for concern that their existing compliance programs may be bypassed by whistleblowers who now have strong incentives to place personal interests ahead of loyalties to employers. Practical implications – Companies need to improve their compliance programs to limit the potential hazards. Originality/value – The proffered “steps to potentially minimize Dodd‐Frank whistleblowers” can help publicly traded companies – and particularly multinational enterprises subject to the Foreign Corrupt Practices Act – to avoid the significant risks that Dodd‐Frank presents to them.

Journal

Journal of Investment ComplianceEmerald Publishing

Published: Sep 13, 2011

Keywords: Corporate; Whistleblowing; Employers; Compliance; United States of America

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