It’s only a matter of time before financial
incentives to report US securities and commodities law
violations start impacting the UK market, lawyers have
Under Dodd Frank’s whistleblower provisions,
bounties are offered to those who provide the US Securities and
Exchange Commission (SEC) with original information that leads
to successful prosecutions.
UK firms need to be aware of the extraterritorial reach of
these provisions, said Charlie Monteith of White & Case in
London. Especially since 80% of Department of Justice (Doj)
settlements have been against institutions based outside of the
"The new legislation means that whistleblowers will become
very incentivised to report to the SEC," said Lucy Frew of Gide
Loyrette Nouel in London. "That’s going to...