• Qui Tam
  • SEC
  • CFTC
  • FCPA
  • Whistleblower Resources
  • FAQS
Subscribe
Donate
No Result
View All Result
Whistleblower Network News
The Truth at Any Cost.
Qui Tam, Compliance and Anti-Corruption News.
SIGN THE PETITION FOR NATIONAL WHISTLEBLOWER DAY IN 2023
Whistleblower Network News
  • Qui Tam
  • SEC
  • CFTC
  • FCPA
  • Whistleblower Resources
  • FAQS
Subscribe
Donate
No Result
View All Result
Whistleblower Network News
No Result
View All Result
Home False Claims-Qui Tam

The Chamber Mischaracterized the SEC Rules for Whistleblowers

Stephen KohnbyStephen Kohn
May 12, 2015
in False Claims-Qui Tam, Features
Reading Time: 2 mins read
The Chamber Mischaracterized the SEC Rules for Whistleblowers
Share on TwitterShare on FacebookShare on LinkedInEmail

The Chamber of Commerce has commenced a well-financed and aggressive lobbying campaign to undermine America’s most effective whistleblower law, the False Claims Act. To justify its anti-whistleblower campaign the Chamber published a report entitled, “Fixing the False Claims Act: the Case For Compliance-Focused Reforms.” The purpose of this blog series is to combat the Chamber’s misinformation, and explain why the False Claims Act must be protected.

Fact Number 21:

The Securities and Exchange Commission (SEC), after engaging in the most comprehensive government review of whistleblower reward programs ever undertaken, rejected many of the same proposals now being rehashed by the Chamber. In 2010-11 the SEC solicited thoughtful and well documented comments related to structuring a rewards program for securities-fraud whistleblowers. 

Support Whistleblower Network News

The Commissioners personally met with all the relevant stakeholders, including representatives from the Chamber of Commerce. The final rule, based on hundreds of detailed comments, including numerous comments from the Chamber of Commerce and its close allies, provides no support whatsoever for any of the Chamber’s FCA-gutting recommendations.

In its report, the Chamber mischaracterized the SEC’s final rules. The Chamber correctly noted that the SEC endorsed a number of rules promoting “regulatory incentives to encourage employees to report possible violations . . . to the company.” However, the Chamber failed to point out that the SEC provided this encouragement without placing any limits on the right of an employee to report concerns directly to the government.

Many of the Chamber’s recommendations are predicated on placing mandatory restrictions on the right of employees to report fraud to the government. The Chamber failed to point out that the SEC completely rejected these very same proposals, and with good reason.

“It is well established that employees are the single most important source for detecting fraud.”

Whistleblowers and their supporters are strongly urged to read this blog series and share it with friends. In addition, an Action Alert has been issued by the National Whistleblower Center so members of the public inform their representatives that the False Claims Act should not be “reformed” as proposed by the Chamber.

Tags: 25 False Claims Act FactsFalse Claims/Qui Tam
Previous Post

Whistleblower Received $600,000 from SEC

Next Post

April 2015 Whistleblower Awards List

Stephen Kohn

Stephen Kohn

Next Post

April 2015 Whistleblower Awards List

Please login to join discussion

Receive Daily Alerts

Subscribe to receive daily breaking news and legislative developments sent to your inbox.

  • This field is for validation purposes and should be left unchanged.

Most Popular

U.S. and UK Advocates Come Together for Whistleblowing Awareness Week

“We want to dispel the stigma.” — Discussing the 1st Whistleblowing Awareness Week with Georgina Halford-Hall and Stephen Kohn

Tell President Biden to “Finish the Job” for Whistleblowers

Change the Culture, Make National Whistleblower Day Permanent

Senators Introduce Bipartisan Bill to Strengthen SEC Whistleblower Program

Ontario Securities Commission Highlights Success of Whistleblower Award Program

Whistleblower Poll

Whistleblower Poll
Whistleblower Poll

Exclusive Marist Poll: Overwhelming Public Support Among Likely Voters For Increased Whistleblower Protections

byGeoff Schweller
October 6, 2020

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

STAY INFORMED.
Subscribe to receive breaking whistleblower updates.

  • This field is for validation purposes and should be left unchanged.

About Us

  • About
  • Contact Us
  • Donate
  • Careers

Subscribe

  • Daily Mail
  • Follow us on Twitter
  • YouTube Channel

Contribute

  • Letter to the Editor
  • Submission Guidelines
  • Reprint Guidelines

Your Experience

  • Accessibility Statement
  • Privacy Policy
  • Terms of Use

Help

  • The Whistleblowers Handbook
  • Frequently Asked Questions
  • Advertise
Whistleblower Network News

Whistleblower Network News is an independent online newspaper providing our readers with up-to-date information on whistleblowing. Our goal is to be the best source of information on important qui tam, anti-corruption, compliance, and whistleblower law developments. 

Submit an Article

Copyright © 2021, Whistleblower Network News. All Rights Reserved.

This Newspaper/Web Site is made available by the publisher for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this website, you understand that there is no attorney-client relationship between you and the Newspaper/Web Site publisher. The Newspaper/Web Site should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

SIGN THE PETITION FOR NATIONAL WHISTLEBLOWER DAY IN 2023
No Result
View All Result
  • Exclusives
  • Government
    • False Claims-Qui Tam
    • Federal Employees
    • Intelligence
  • Corporate
    • CFTC & Commodities
    • Dodd-Frank
    • IRS & Tax
    • SEC & Securities
  • Features
  • Legislation
  • International
    • Foreign Corruption
  • Rewards
  • Whistleblower of the Week
  • Environment & Climate
  • Opinion
  • Editorial
  • Employment
    • Sarbanes-Oxley Whistleblowers
    • Retaliation
    • OSHA
  • Media
    • Podcasts
    • Videos
    • Webinars
    • National Whistleblower Day
  • Whistleblower Poll
  • Whistleblower Resources
    • Frequently Asked Questions
    • Resources for Locating An Attorney
    • The New Whistleblowers Handbook
  • National Whistleblower Day ’23

Copyright © 2020, Whistleblower Network News. All Rights Reserved.

Become a Whistleblower Network News Subscriber

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Subscribe to WNN

Retrieve your password

Please enter your username or email address to reset your password.

Subscribe to WNN

Add New Playlist

Go to mobile version