SEC Is Getting A “Fire Hose” Of Whistleblower Tips

The SEC is definitely bullish on its Dodd-Frank Whistleblower program, judging from its report to Congress a few months ago about how it’s working. Last year it got about 4,000 tips and paid out more than $37 million in awards. The SEC’s Boston regional director calls it a “fire hose” of tips. A post from K&L Gates advises companies on how to avoid becoming the subject of one of them. But if you do get queried because of a complaint, the writers say, don’t fall into the temptation of badmouthing the whistleblower. It’s almost sure to backfire.