Cadwalader attorneys described five compliance measures to minimize risk when responding to whistleblowers.
In a Bloomberg Law article, Cadwalader attorneys reminded companies that the SEC's Whistleblower Program is "alive and well," highlighting a recent $50 million whistleblower award. To minimize risk and promote best practices, the attorneys advised companies to:
1. avoid retaliating against or cutting off contact with a whistleblower;
2. encourage internal reporting;
3. be proactive and get ahead of the investigation;
4. keep a paper record; and
5. regularly review and update compliance practices.
The Bloomberg Law article was authored by Kyle DeYoung, Lex Urban and Will Simpson.
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