The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S. REUTERS/Andrew Kelly
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April 14, 2022 - Whistleblowers and their counsel face a welcome problem. What to do if two separate laws permit a whistleblower to obtain a financial award for making an identical disclosure? How do you judge which law to use?
This question can be very significant, as agencies, such as the U.S. Securities and Exchange Commission (SEC), have implemented regulations to prevent double payment of awards. These restrictions can apply even when one of the laws is extremely weak. If two laws cover one violation, whistleblowers may have to choose which one to elect to use. Thus, knowing how to interpret potentially overlapping whistleblower laws is of growing significance.
Why do some laws work in incentivizing whistleblowers to come forward with high-quality information, while others fail to do so? The modern award laws have been actively used since 1986. Therefore, a solid empirical basis exists to judge which laws to use, and which to avoid.
The first criterion is perhaps the most important. Does the law require an agency to pay a minimum award to successful and qualified...
The HYDRA Commissioner has clarified that HYDRA will not interfere with houses built in old layouts on ULC (Urban Land Ceiling) lands , nor with unregularised vacant plots in such layouts. He urge...