Larger Rewards For Wall Street Whistleblowers May Be On The Horizon

As reported by the Wall Street Journal , the Obama administration will seek to remove the $1.6 million cap on rewards to whistleblowers who provide evidence of criminal conduct by financial executives under the 1989 Financial Institutions Reform, Recovery and Enforcement Act . In a speech at the New York University Law School, Attorney General Eric Holder explained that increasing the size of whistleblower awards under FIRREA "could significantly improve the Justice Department's ability to gather evidence of wrongdoing while complex financial crimes are still in progress making it easier to complete investigations and to stop misconduct before it becomes so widespread that it foments the next crisis."



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