On February 26, 2015, Katz Banks Kumin partner David J. Marshall participated on a panel called “SEC Whistleblower Program to Enforce Securities Fraud” during a symposium at Georgetown University Law School on “Private Justice in Public Enforcement,” sponsored by the American Criminal Law Review.  Chaired by Georgetown law professor Daniel Langevoort, the panel featured a summary by Frank Razzano, a partner at Fox Rothschild in Philadelphia, of an upcoming article on the U.S. Securities and Exchange Commission (SEC) Whistleblower Program, followed by comment and discussion from Mr. Marshall, along with Stephen Cohen, Associate Director of Enforcement at the SEC, and Christopher Davies, a partner in Wilmer Hale’s securities law department.  The discussion and debate focused on a wide range of topics related to the new program, from the pros and cons of incentivizing whistleblowers with monetary rewards, to the importance of the anonymity the program provides to whistleblowers, to the clash between whistleblower reward programs and employees’ fiduciary duties to their employers.