U.S. - SEC Proposes Changes to Whistleblower Program, to Permit Adjustment of Small and “Exceedingly Large” Awards

With two Commissioners dissenting, the SEC voted on 28 June 2018 to propose amendments to its whistleblower program. The most controversial proposed change would provide the SEC with the discretion to adjust small awards upward and "exceedingly large" awards downward. The Dodd-Frank Act whistleblower program pays awards to whistleblowers who voluntarily provide the Commission with original information leading to the successful enforcement by the SEC of a federal court or administrative action