The Securities and Exchange Commission’s new whistleblower program took effect Friday, and the SEC has created a new Web page where people can report a violation of the federal securities laws and apply for a financial award.
The Dodd-Frank Wall Street Reform and Consumer Protection Act provided the SEC with the authority to pay financial rewards to whistleblowers providing new and timely information about any violation of the securities laws. To be eligible, the whistleblower's tips must lead to a successful SEC enforcement action with more than $1 million in monetary sanctions.
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