Bell Nunnally Partner Jeffrey J. Ansley is quoted in the Law360 article “Lawyers Weigh In On SEC's Record Whistleblower Award.” The piece contains attorney reactions to the U.S. Securities and Exchange Commission decision awarding more than $30 million to a corporate whistleblower, more than doubling its prior record payout.
Ansley commented:
The significance of this Dodd-Frank whistleblower award cannot be easily overstated. More than double the amount of the largest past award handed out by the SEC under the statute, the magnitude of this award highlights the Commission’s ongoing commitment to grow its still-new whistleblower incentive program after its admittedly slow start. As the SEC knows, the best and fastest way to do that is to create significant financial incentives for potential whistleblowers, both inside and outside of companies, to report financial fraud when they become aware of it. Paying out — and publishing — large awards like this one accomplish just that.
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