Wednesday, May 25, 2011 7:08:18 PM
Now there's a huge financial incentive for those who call out for corporate "misconduct." Report principals' misconduct to SEC and be in line for big money under terms of a new SEC program. Better hurry. Time is running out before others pass that finish line.
Tipsters would be eligible if they give the Securities and Exchange Commission information that leads to an enforcement action resulting in more than $1 million in penalties. The SEC would pay up to 30 percent of the money it recovers from a company or person.
The new rules represent the first time that whistleblowers will be given a financial incentive to report misconduct to company authorities, SEC Chairman Mary Schapiro said before the vote.
New rules offer big cash awards to whistleblowers
SEC passes rules to encourage whistleblowers, who could get up to 30 pct of money recovered
finance.yahoo.com/news/New-rules-offer-big-cash-apf-2295160939.html?x=0&sec=topStories&pos=2&asset=&ccode=
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