Compliance into the Weeds: Episode 88

Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode, Matt Kelly and I take a deep dive back into the proposed changes to the SEC Whistleblower program in light of Digital Realty Trust and the new administration.

The major proposed changes include the following:

1. More bounty payments for smaller settlements;
2. A cap on the top end awards of $30 million, no matter how great the settlement;
3. Requirement that for the purposes of Dodd-Frank Whistleblower anti-retaliation protection, any information must be submitted in writing; and
4. A widening of the SEC’s discretion to award whistleblower claims based on public information using independent evaluation and analysis.

We unpack of all these points and consider the implications for corporate compliance programs.

For more reading: see Matt’s piece On SEC Whistleblower Reforms