Under the whistleblower provisions of the Dodd-Frank Wall Street Reform Act of 2010 (Dodd-Frank), both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) were empowered to extend monetary awards to whistleblowers who provide tips and original information to the two agencies that lead to enforcement actions with sanctions that exceed $1 million. The “winning whistleblower” can receive an award valued between 10 percent and 30 percent of the amount of the penalties collected. Since its inception in 2011, the SEC’s whistleblower program alone has paid over $57 million to whistleblowers. And the odds of winning just keep getting better.
For over a decade, the significant cost and productivity advantages of outsourcing a firm’s legal processes to a legal processing vendor have become indisputable. Both the savings to an organization’s legal spending as well as the flexibility and scalability that determine competitiveness dictate that strong firm-provider partnerships be maintained. But as recovery from the global economic crisis continues at a slower than expected pace, the pressure on law firms and businesses to further fine-tune LPO dynamics has taken center stage. The question is no longer whether to outsource, but rather, which processes and to how many locations?