SEC official plays down concern about whistleblower program

The U.S. Securities and Exchange Commission’s fledgling whistleblower program has helped focus the work of agency investigators and should not be measured by the dearth of awards so far, a senior SEC official said. Speaking at a panel discussion in New York, Associate Director of Enforcement Stephen Cohen said officials operating the 20-month-old program are devoting more attention to alleged wrongdoing involving asset management, financial reporting and “sophisticated trading” techniques. He noted that it takes time to sort through the tips, which totaled 3,001 in the first year, and that the mere one award given so far under the program should not signal lax or inadequate oversight.
More on Reuters here.

Share This Page:
  • email
  • Facebook
  • Twitter
  • LinkedIn