House Quoted on Compliance Official Whistleblower Award

22 April 2015 Bloomberg BNA Securities Regulation & Law Report News

Bloomberg BNA Securities Regulation & Law Report

Partner Bryan House was quoted in a Bloomberg BNA Securities Regulation & Law Report article, “Compliance Official Who Exposed Possible Misconduct Sees $1M WB Award,” on April 22, 2015. The article discussed the Securities and Exchange Commission’s $1 million whistleblower reward to a compliance professional, which represents only the second award to an employee with internal audit or compliance responsibilities.

House was quoted saying, “The SEC’s practice of providing precious little information about these awards no doubt leaves companies wondering if they could find themselves in a similar situation. The compliance officer’s counsel reported publicly that this case had a ‘unique fact pattern,’ but, absent any information about those facts, companies and their executives are likely to find a $1.5 million payout to a compliance officer troubling.”