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Whistleblowers still SEC's best weapon against fraud

By Phillips & Cohen LLP

While the exchanges bicker over the cost of implementing real-time market tracking systems (?Charges Bring SEC Hope for New Weapon,? Wall Street Journal, Aug. 30), on-the-ground whistleblowers remain the Securities and Exchange Commission's best "weapon" in both enforcement and deterrence. Congress recognized this when it created new whistleblower programs for the SEC and the Commodity Futures Trading Commission as part of the Dodd-Frank financial overhaul legislation.

Full post as published by False Claims Act - Qui Tam on September 14, 2010 (boomark / email).