Bloomberg’s coverage of an August 26, 2022 vote by the SEC Commissioners to modify two rules governing the Commission’s whistleblower program missed the real story. In its coverage, Bloomberg focused only on comments made by two dissenting SEC Commissioners who expressed “concerns” over the whistleblower program's “secrecy.” Oddly, those “concerns” were generated, not as part of the Commission’s rulemaking process, but instead by a Bloomberg news story that had nothing whatsoever to do with the final rules approved by the SEC.
On July 26th Bloomberg ran a story attacking the confidentiality provisions of the Dodd-Frank Act which protect the identity of whistleblowers. The SEC’s confidentiality provisions are required under law. Dodd-Frank mandated that the SEC treat corporate whistleblowers similar to the way the Justice Department treats other confidential informants. All confidential informant programs carefully guard any information that could result in identifying insiders. The well-established (and unchallenged) public policies that justify law enforcement’s use of confidential informants to build cases against criminals are the same policies that justify protecting the confidentiality of corporate whistleblowers who report criminal fraud and securities violations. Confidential informant programs work. They are essential law enforcement tools.
By coincidence, the SEC approved, in a 3-2 vote, two changes to the rules governing its whistleblower program. None of these...
Iranian Parliament Speaker Mohammad Bagher Ghalibaf, who headed Iran’s delegation in the recent talks with the US in Islamabad, said on X that Donald Trump "made seven claims in one hour, all seve...