Phillips & Cohen partner Sean McKessy, former Chief of the SEC Office of the Whistleblower, provides a primer on the SEC’s whistleblower program in a New York Law Journal article co-authored with Cleary Gottlieb partner Matthew Solomon.
The Biden SEC will take a muscular approach to enforcement. It will try to speed up investigations. And potential whistleblowers will be highly incentivized to seek a payout under the SEC’s award program. The current economic climate presents incentives for increased fraud as companies are making significant accounting and disclosure judgments and increased whistleblowing, as employees feel negative economic pandemic-related impacts.
The current moment is ripe for investigations based on information from whistleblowers, and below we provide what every company needs to know now.
Read the entire article, “SEC’s Whistleblower Program: What Every Company Needs to Know,” on Law.com (subscription required).