The amendments, in the works for more than two years, would give the SEC the ability to curtail the largest whistleblower awards and process some award claims more quickly. The SEC previously called off another vote on the amendments that was scheduled for last October. The amendment would disincentivize the highest-paid Wall Street insiders from providing information, whistleblower lawyers have said. Stephen Kohn, a whistleblower lawyer and a founder of the National Whistleblower Center, said the commission shouldn’t adopt changes that would undermine the program’s success. In an award announcement on Tuesday, the SEC’s whistleblower office said the agency had awarded approximately $510 million to 92 individuals since its first award in 2012.

Source: Wall Street Journal September 01, 2020 22:41 UTC