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SEC's Whistleblower Rules Are Now Effective


On May 25, 2011, the Securities and Exchange Commission ("SEC") adopted final rules implementing the whistleblower provisions of the Dodd-Frank financial reform regulations, which provide that individuals who report potential securities violations to the SEC may be entitled to a reward of between 10 and 30 percent of any monetary recovery exceeding $1 million. This program affects every public company and became effective on August 12, 2011. This Alert discusses the program.