Whistleblower Awards of the SEC at Record Level – Re-examine Policies and Procedures by MAH AdvisingCrelano@mahadvising.com
Whistleblower Awards of the SEC at Record Level | Re-examine Policies and Procedures by MAH Advising
The U.S. SEC announced recently that they have already surpassed fiscal year 2021’s whistleblower award record during the first half of fiscal year 2021. You can learn about the press release from the SEC by clicking here, in order for you to be well adept of the news with regards to the investment adviser compliance services.
In order for the SEC to compensate a qualified whistleblower who provides the Commission with great quality, unique information with regards to the violation of the federal security laws that will eventually lead to successful settlement in a voluntary manner, under the “Dodd-Frank Wall Street Reform and Consumer Protection Act”, the SEC continue to establish a program for whistleblower. Up to 30% share of any recovery over $1 million (up to $5 million in total) to be given away to the whistleblower.
The Office of the Whistleblower is located on the SEC’s website, which can be found by clicking here, which is very helpful to keep you updated with the news about investment adviser compliance services. Furthermore, the whistleblower program protects employees from retaliation by employers and gives the victimized employee a private cause of action for discharge, wrongful termination, or discrimination by their respective employers.
MAH Advising recommends that an investment adviser compliance services firm like “MAH Advising” conduct a thorough review of their policies and procedures in light of the trend of employees making whistleblower reports both internally and externally. As a result, complaints about internal whistleblowers are properly handled, and supervised people will not be terminated because of a whistleblower complaint.