On May 25, the SEC issued a new Regulation 21F under the Exchange Act to implement the whistleblower directive under the Dodd-Frank Act.
Section 922 of Dodd-Frank added Section 21F to the Exchange Act to incentivize individuals that act as whistleblowers regarding violations of the federal securities laws.
Individuals who voluntarily provide the SEC with original information about a possible violation of the federal securities laws that leads to an enforcement action resulting in monetary sanctions exceeding $1 million, can receive between 10% and 30% of the amount recovered (!!!).
Regulation 21F will be effective on August 12, 2011
Sarbanes Oxley Compliance Association (SOXCPA)-
The Sarbanes Oxley Compliance Professionals Association (SOXCPA) is the largest Association of Sarbanes Oxley professionals in the world - http://www.sarbanes-oxley-association.com.
George Lekatis is the General Manager and Chief Compliance Consultant of Compliance LLC, a leading provider of risk and compliance training and executive coaching in 36 countries.
George has more than 17,000 hours experience as a professional speaker and seminar leader. He has worked for more than 15 years as a management consultant and educator and has demonstrated exceptional presentation and communication skills.
George is the president of the Basel ii Compliance Professionals Association (BCPA, www.basel-ii-association.com), the largest association of Basel ii professionals in the world, the Basel iii Compliance Professionals Association (BiiiCPA, www.basel-iii-association.com), the largest association of Basel iii professionals in the world, the Sarbanes Oxley Compliance Professionals Association (SOXCPA, www.sarbanes-oxley-association.com), the largest Association of Sarbanes Oxley professionals in the world, and the Solvency II Association (www.solvency-ii-association.com), which is also the largest Association of Solvency II professionals in the world.
George is an expert witness, qualified to investigate and testify about risk and compliance management standards, policies, procedures, best practices, due care and due diligence.
President of the Sarbanes Oxley Compliance Professionals Association (SOXCPA)
General Manager and Chief Compliance Consultant, Compliance LLC
1200 G Street NW Suite 800, Washington DC 20005, USA
Tel: (202) 449-9750