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The author testified at a U.S. House Committee on Financial Services, Subcommittee on Capital Markets and Government Sponsored Enterprises hearing on May 11, 2011. The hearing explored a discussion draft of legislation which would modify the whistleblower bounty provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The author's testimony suggested that the proposed reforms, which included a requirement of internal reporting to preserve a whistleblower's bounty eligibility, a change from mandatory to discretionary bounties, and a prohibition on contingency fees, would dull the incentives Dodd-Frank's bounty provision was meant to foster. |
