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More Whistleblowing in the Wind

Dodd-Frank provision adds incentive to report wrongdoing

By staff Writer | Updated on October 31, 2010

A provision in the Dodd-Frank financial reform law that hiked monetary awards for taking evidence of wrongdoing directly to the Securities and Exchange Commission and the Commodities Futures Trading Commission is starting to reverberate. The Wall Street Journal reports that an existing whistleblower law resulted in a settlement of $750 million between GlaxoSmithKline and the Justice Department last week, with the former Glaxo quality assurance manager who was involved in line to receive $96 million. Companies fear new laws will lead to increased costs and undermine their internal fraud detection efforts.

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