SEC Strikes Fear With First Award To Compliance Pro

September 3, 2014

Jordan A. Thomas comments on compliance professionals becoming SEC whistleblowers

Attorneys said they expect an uptick in auditors and compliance officers becoming SEC whistleblowers, but they had differences of opinion as to their motivations.

“The popular perception of an SEC whistleblower is it’s all about the money,” said Jordan Thomas, chair of the whistleblower representation practice at Labaton Sucharow LLP. But for in-house auditors and compliance officers, the rules requiring them to report problems internally first are an important control.

“They can only be whistleblowers if the company didn’t do the right thing. I find that pretty compelling,” Thomas said.