Enron whistleblower not impressed with new financial reform rules

Sherron Watkins told the New York Society of CPA’s that new rules giving financial rewards to whistleblowers will have little effect because the SEC lacks the “bad cop” culture of the Justice Department and that the agency goes after easy cases to increase their success rates, according to CFO Magazine. She also said most would-be whistleblowers will figure out that they’ll ultimately make more money by keeping quiet — because being labeled a whistleblower will make it hard to get another corporate job. ”She has a good point,” says Jason Zuckerman, a lawyer who represents whistleblowers, in the article. “High-level corporate people who are aware of fraud would probably earn more over their careers if they kept their jobs rather than blowing the whistle.”

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