I like him & think he could be the next governor.
New York’s Top Cop Wants to Pay and Protect Whistle-Blowers
(Bloomberg) -- New York’s attorney general wants a state law allowing him to pay and protect whistle-blowers who provide his office with information about securities fraud, similar to a Securities and Exchange Commission program rolled out four years ago.
Attorney General Eric Schneiderman is seeking to build support among New York lawmakers for his proposal, which would allow for rewards if information from whistle-blowers leads to penalties and fines of more than $1 million.
The measure could add to lingering tensions with the SEC, which has tangled with several New York attorneys general over who should take the lead in pursuing some types of financial fraud. If the proposal is adopted and both programs offer similar rewards, whistle-blowers might simply choose which office would deliver the quickest and most effective response.
“This is a very strong endorsement of the SEC’s program, and more cops on the Wall Street beat can only help investors,” said Jordan A. Thomas, a former SEC lawyer who’s now a partner at Labaton Sucharow in New York. “The proposed law will allow the New York attorney general to be more effective and efficient in protecting investors in New York and around the country.”
Schneiderman’s proposal could stall as the legislature turns its attention to negotiating with Governor Andrew Cuomo over his $141.6 billion budget ahead of a March 31 deadline. It will also encounter a Republican-controlled Senate that traditionally sides with business interests.
more:
http://www.bloomberg.com/news/articles/2015-02-26/new-york-s-top-cop-seeks-whistle-blower-law-to-rival-sec
DO SOMETHING!
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