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Whistleblowers eligible for an award. Most individuals, regardless of citizenship, may be eligible whistleblowers if they voluntarily provide the SEC with original information about a possible violation of the federal securities laws that has occurred, is ongoing, or is about to occur. The information provided must lead to a successful SEC action that results in monetary sanctions exceeding $1 million. One or more people can act as a whistleblower, but companies or organizations cannot qualify as whistleblowers. Furthermore, individuals are not required to be employees of a company to submit information about that company. Importantly, even though the SEC Whistleblower Program allows anonymous submissions through attorneys, the agency will issue an award only after it determines that the whistleblower is eligible for the award. The SEC may reduce the amount of an award if the whistleblower participated in, or was culpable for, the violation.
The Patient Protection and Affordable Care Act (“ACA”) was signed into law on March 23, 2010. The statute is over 2,000 pages long, and various federal agencies have issued approximately 20,000 pages of regulatory guidance. Significant additional regulatory guidance will be published in 2013 and beyond. The sheer volume of regulations and related guidance makes the law inaccessible to most employers, but planning is critical. As of the date of this publication, many employers will have begun their “measurement periods” to determine eligibility.