July 05, 2018
In an article appearing on CFO.com, Phillips & Cohen attorney Sean McKessy commented on the SEC’s proposed amendments to its whistleblower program. Among other things, the SEC is seeking greater discretion over the size of whistleblower awards – including the ability to reduce large payouts.
Sean McKessy, the SEC’s first whistleblower director and now a partner at Phillips & Cohen, said the amendments could send the wrong message:
“Why would you say it’s not reasonable to award somebody who stopped a billion-dollar fraud at the highest amount if they earned it?”