Opinion analysis: Whistling while you work is whistling in the wind – Dodd-Frank whistleblowers do need to inform the SEC

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 created a bounty system designed to reward those who provide information to the Securities and Exchange Commission when that information leads to monetary penalties. The term “whistleblower” appeared multiple times throughout the several pages of new Section 21F of the Securities Exchange Act of 1934 and was specifically defined as “any individual who provides … information relating to a violation of the securities laws to the Commission, in a manner established, by rule or regulation, by the Commission.”