Partner Bryan House was quoted in the Law360 article, “Whistleblower Developments To Watch For As 2020 Wraps,” which looks at developments this year that might impact whistleblowers.
The SEC is preparing to vote on a rule that would give the agency discretion to cut down whistleblower awards in cases yielding $100 million or more in sanctions and have at least a $30 million bounty.
Although awards of that magnitude are few and far between, regulators say the new measures would allow the agency to ensure that awards do not “exceed an amount that is reasonably necessary to reward the whistleblower and to incentivize other similarly situated whistleblowers.”
House said he questioned whether the limits would have much of an impact on whistleblowers or the program. “I don’t think that cutting back the size of the awards undercuts the program,” he said. “It’s still a lot of money.”
If passed, the proposed rule could also give the agency the discretion to adjust upward the smallest awards, those under $2 million, under which a majority of awards fall. House, who defends companies facing whistleblower claims, said this small award provision shows that the proposed rule is not one-sided or detrimental to the program.
People
Related News
August 8, 2025
In the News
Gregory Husisian and David Simon Uncover the High Stakes of Tariff Evasion
Foley & Lardner LLP partners Gregory Husisian and David Simon are featured for their insights on how the U.S. government is cracking down on tariff evaders in the Newsweek article, "America Is Making Billions From Catching 'Tariff Cheaters.'"
August 7, 2025
In the News
Kyle Faget Weighs in on Trump Pharma Tariffs
Foley & Lardner LLP partner Kyle Faget assessed the Trump administration's implementation of import tariffs on the pharmaceutical industry in the Pharma Life Sciences article, "Trump's pharma import tariffs threaten drug pricing, generics."
August 5, 2025
In the News
Aaron Maguregui on Health Data Sharing Plan – 'I would expect the FTC to be heavily involved'
Foley & Lardner LLP partner Aaron Maguregui addressed a new health care data sharing initiative announced by the federal government in the Bloomberg Law article, "Digital Data-Sharing Plan Tests Limits of Health Privacy Rules."