On Oct. 1, 2013, the Securities and Exchange Commission (SEC) announced that it had awarded more than $14 million to an unidentified whistleblower who provided information leading to a successful enforcement action ' by far the largest payout to date under the SEC's two-year-old whistleblower program.
The SEC Whistleblower Program
Do whistleblowers have an incentive to bypass internal corporate compliance programs? Companies should have strong incentives for employees to report any suspected wrongdoing internally, and reliable systems to ensure that such reports are dealt with quickly and appropriately.
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