Partner Robert Wild Quoted in Compliance Week on New Whistleblower Rules

Robert Wild, a partner in the firm's Corporate Practice, was quoted in an article in Compliance Week on the SEC's new procedures and awards for whistleblowers. “The SEC has made it very easy to submit a complaint, with its online, question-driven portal,” Mr. Wild says. Companies have good reason to be concerned about the new system, as well as the incentive that offers potential whistleblowers 10 to 30 percent of the penalty amount for providing original information about a securities law violation. “The SEC is clearly pushing companies to self-report” under the new rules, Mr. Wild says, because the only way to preclude an individual from receiving the award is to self-disclose potential violations immediately, ensuring that that person does not have original information. Still, he advises caution when bringing others into an investigation. “The more people that know about it, the more potential whistleblower reports,” he says. ("Life Under New Whistleblower Rules," June 21, 2011)