Erika Kelton in InsideCounsel, 7/12/16.
In response to the news, Erika Kelton, an attorney at Phillips & Cohen, agreed in an interview with InsideCounsel, “This is an important signal that Germany values and welcomes whistleblowers. It’s a big step in the right direction.”
“However, I would encourage BaFin also to consider providing financial incentives to whistleblowers given that whistleblowers often are risking their careers when they step forward to report wrongdoing,” she added. “Whistleblower programs that are structured to offer job protection, confidentiality and rewards have proven to be a very successful approach in the US to attracting high-quality whistleblowers in the financial sector.”