Allison Lee Allison Lee testifies before the Senate Banking Committee during her SEC confirmation hearing on Wednesday, June 5, 2019. Credit: Diego M. Radzinschi / ALM

Whistleblower advocates voiced alarm Wednesday over the U.S. Securities and Exchange Commission (SEC) asserting broad discretion to lower awards for tipsters who assist with investigations, saying the agency's move threatens to undermine a program that has been hailed as a "game changer" for the agency's enforcement efforts.

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C. Ryan Barber

C. Ryan Barber, based in Washington, covers government affairs and regulatory compliance. Contact him at [email protected]. On Twitter: @cryanbarber