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In prepared remarks on June 23, 2021, Chair Gary Gensler of the Securities and Exchange Commission (SEC) provided additional insight into the commission’s recently announced regulatory agenda and its shift in priorities. His statement and the agenda show that new public company disclosures will be at the forefront of upcoming and pending rulemakings. In response to the regulatory agenda, the two Republican commissioners, Hester Peirce and Elad Roisman, issued a joint statement voicing concerns about efforts to undo certain recently adopted rules.
Although the timing and ultimate outcome of the new rulemakings remain to be seen, public companies should expect to see a number of proposals in the coming months, which will be subject to public comments before final adoption by the SEC. Significant proposed and final SEC rulemaking items from both the short-term agenda and long-term agenda are summarized below.
Friday, July 2, 2021
Under the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010, the Securities and Exchange Commission (SEC or the Commission) rewards eligible whistleblowers who voluntarily provide the Commission with original, timely, and credible information that leads to a successful enforcement action. When the monetary sanctions exceed $1 million, the whistleblower award amount may be between 10% and 30% of the total monetary sanctions collected in the Commission’s action or any related action.
Since 2012, the SEC has awarded approximately $938 million to 179 individuals. Payments are made out of an investor protection fund established by Congress that is financed through monetary sanctions paid to the SEC by securities law violators.
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