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SEC Debuts Whistle-Blower Website as Dodd-Frank Bounty Program Begins- 08/12/11

On August 12, 2011, the SEC opened a whistleblower website as its new bounty program under the Dodd-Frank began. The Dodd-Frank Act’s incentive program rewards whistleblowers with up to 30 percent of the penalties collected from wrongdoers. Congress enacted the legislation that created the program last year and it has been operating on an interim basis since that time. Chief of SEC’s whistleblower office, Sean McKessy, reported that “tip quality” has already shown improvement from last year.

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