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GAO-11-764R 1 (2011-06-27)

handle is hein.gao/gaobadxer0001 and id is 1 raw text is: I GA 0 T M WAccountability * Integrity * Reliability United States Government Accountability Office Washington, DC 20548 B-322106 June 27, 2011 The Honorable Tim Johnson Chairman The Honorable Richard C. Shelby Ranking Member Committee on Banking, Housing, and Urban Affairs United States Senate The Honorable Spencer Bachus Chairman The Honorable Barney Frank Ranking Member Committee on Financial Services House of Representatives Subject: Securities and Exchange Commission: Securities Whistleblower Incentives and Protections Pursuant to section 801(a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by the Securities and Exchange Commission (Commission), entitled Securities Whistleblower Incentives and Protections (RIN: 3235-AK78). We received the rule on May 27, 2011. It was published in the Federal Register as a final rule on June 13, 2011, with a stated effective date of August 12, 2011. 76 Fed. Reg. 34,300. The final rule implements section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.' Section 922 directs the Commission to pay awards, subject to certain limitations and conditions, to whistleblowers who voluntarily provide the Commission with original information about a violation of the securities laws that leads to the successful enforcement of an action brought by the Commission that results in monetary sanctions exceeding $1,000,000. Enclosed is our assessment of the Commission's compliance with the procedural steps required by section 801(a)(1)(B)(i) through (iv) of title 5 with respect to the 1 Pub. L. No. 111-203, § 922, 124 Stat. 1376, 1841 (July 21, 2010). GAO- 11-764R

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