Bounty Unethical For Lawyers Whistleblowing With Confidential Info
October 24, 2013
The Dodd-Frank Act allows lawyers to blow the whistle on clients violating securities laws using confidential information, but an ethics opinion from a committee of the New York County Lawyers’ Association said any disclosure of confidential information must be for the purpose of preventing wrongdoing, and the lawyer can’t collect a bounty. The issue was whether the prospect of the bounty would “tend to cloud a lawyer’s professional judgment.” The opinion applies to both outside and in-house attorneys.
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