Firms Look at Whistle-Blower Bounties to Counter Dodd-Frank (Boehme quoted)

Firms Look at Whistle-Blower Bounties to  Counter Dodd-Frank

Beagan Wilcox Volz – MoneyMedia – March 7, 2011

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Nowadays, doing the right thing may pay off — literally — at some firms.

New whistle-blower bounties mandated under Dodd-Frank and proposed regulations that some say would encourage employees to bypass internal compliance programs in favor of going straight to regulators are leading a growing number of firms to consider more explicitly tying compensation to ethical behavior.

A number of chief ethics and compliance officers are considering offering internal awards and incentives to counter the Dodd-Frank bounty provision because they fear the law will undermine employees’ willingness to address concerns in-house, says Donna Boehme, principal at consulting firm Compliance Strategists and former BP global ethics and compliance officer.

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