ACC Files Comments with SEC re: Dodd-Frank Whistleblower Regs Proposal

Today ACC filed followup comments with the Securites and Exchange Commission  regarding proposed regulations, related to the Dodd-Frank Bill, that bypass the internal compliance systems designed to handle employee reports that are critical to addressing emerging problems. Earlier this week over 270 CLOs and Compliance Officers joined ACC in its first comments letter to the Securites and Exchange Commission regarding these proposed regulations. In both letters ACC argues that SEC’s rules must safeguard the role of compliance and reporting programs to detect and resolve allegations of misconduct before they fester or mushroom. The additional comments filed today address in greater detail more of the technical issues surrounding the non-compliance aspects of the proposed regulations.  For more information see below:

ACC Comments Letter to SEC, 12-15-2010

ACC Followup Comments to SEC, 12-17-2010

SEC Whistleblower Regulations Proposal