Jack, just think how much money could have been awarded under the Obama Administration if the whistleblowers started squealing on them. Of course, they might have ended up floating face down in the Potomac, but that is another thing for another article.
Payments are capped at 10 percent to 30 percent of the money collected. If this person got 30%, Obama’s admin wouldn’t have been able to give any more than what they already got!
Yep, why can’t the payment to the whistleblower come from the company that was found in the wrong? Why from a Fund established by Congress and paid into by the SEC from all businesses?
Baxtor – the fund is not paid into from all businesses. As the article said, “All payments are made out of an investor protection fund established by Congress that is financed through monetary sanctions paid to the SEC by securities law violators.”
clearly you didn’t read the article. See Confused’s comment. Not your money. The payouts are so large because the assumption is a whistleblower will not be able to get another job in that industry, maybe any industry, ever. Retaliation protections are not enough, so there needs to be an incentive large enough for people to risk their entire careers over. Otherwise, who would come forward?
It is wonderful how generous these agencies are with our money.
Where can I get this job? LOL
Jack, just think how much money could have been awarded under the Obama Administration if the whistleblowers started squealing on them. Of course, they might have ended up floating face down in the Potomac, but that is another thing for another article.
Payments are capped at 10 percent to 30 percent of the money collected. If this person got 30%, Obama’s admin wouldn’t have been able to give any more than what they already got!
Yep, why can’t the payment to the whistleblower come from the company that was found in the wrong? Why from a Fund established by Congress and paid into by the SEC from all businesses?
Baxtor – the fund is not paid into from all businesses. As the article said, “All payments are made out of an investor protection fund established by Congress that is financed through monetary sanctions paid to the SEC by securities law violators.”
clearly you didn’t read the article. See Confused’s comment. Not your money. The payouts are so large because the assumption is a whistleblower will not be able to get another job in that industry, maybe any industry, ever. Retaliation protections are not enough, so there needs to be an incentive large enough for people to risk their entire careers over. Otherwise, who would come forward?