Harvard Law School to America’s Corporations: avoid SEC scrutiny by creating internal whistleblower program

Kobi Kastiel, co-editor of the Harvard Law School Forum on Corporate Governance and Financial Regulation has come up with strong recommendations for corporations seeking to avoid SEC whistleblower cases: create an internal corporate fraud program to identify fraud issues.

Under the SEC Whistle-blower Program, eligible whistle-blowers can recover 10 percent –30 percent of the amount of any money sanctions collected that exceed $1 million in actions brought by the SEC . A successful corporate whistle-blowing program requires protections for the whistleblowers as many are afraid to report internally says Kastiel.

Jeffrey Newman represents whistleblowers