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Answering
questions from voters in an online chat, Clinton, the Democratic
frontrunner, said she would increase the maximum amount of money
a whistleblower can be rewarded so such incentives "are actually
effective."
Whistleblowers who expose wrongdoing under the Financial
Institutions Reform, Recovery and Enforcement Act cannot be
rewarded more than $1.6 million, an amount Clinton should be
"sharply increased," her campaign staff said soon after in an
email to reporters.
"While this represents a large sum in real dollars, it pales in
comparison to pay levels within the financial sector," the
campaign's statement said, and so the cap was not a big enough
incentive for finance workers to risk lucrative careers by
reporting wrongdoing.
Whistleblowers in sectors governed by other laws can potentially
receive much larger rewards, measured as a percentage of a
settlement or an amount recovered, and Clinton said this
disparity needs to be resolved.
Clinton also said fines for companies caught engaging in
financial misconduct should "cut into" the bonuses of the
executives responsible, but did not provide details as to how
this would work.
(Reporting by Jonathan Allen; Editing by Meredith Mazzilli)
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