September 9, 2018
The Whistleblower Office continues to shy away from initiatives that would help the confidence in the program. For example, rather than waiting the 60+ days it takes for some defendants to make payment and then posting a Notice of Covered Action, the Commission could post a Notice of Covered Action immediately with a simple disclaimer that the full funds have not been collected yet. This would substantially reduce the amount of time Whistleblowers have to wait . In previous responses by the SEC, it was stated this was not possible. However, it is well within letter and spirit of the law to make such exceptions, indeed, the SEC has regularly used the ability to make exceptions to the Whistleblower Rules on a number of previous occasions.