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Released: August 13, 2011
Facing complaints, S.E.C. opens whistle-blower office
Source: Ben Protess, The New York Times
Get your whistles out, corporate employees. The Securities and Exchange Commission’s whistle-blower office opened its doors on Friday, much to the delight of plaintiffs’ lawyers and the consternation of corporate America. The new program will issue cash rewards to employees who report fraud to the government, an effort by the S.E.C. to expose corporate crime in the aftermath of the financial crisis. The S.E.C., hammered by critics for ignoring tips about Bernard L. Madoff’s huge Ponzi scheme and other corporate malfeasance before the crisis, is gearing up to spend top dollar for first-class tips.Read Full Article: Facing complaints, S.E.C. opens whistle-blower office
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