The financial reform bill contains a provision that would let whistleblowers collect up to 30 percent of any settlement with the Securities and Exchange Commission that exceeds $1 million, Compliance Week reports. Although paying bounties should produce an increase in the SEC's fraud caseload, the long-term effect is unclear, said Christopher Cook, a partner at the law firm Jones Day. "Giving witnesses a financial stake in enforcement actions may undermine the legitimacy and reliability of complaints," Cook told the publication.
