The SEC will post a Notice of Covered Action, which will provide eligible whistleblower with 90 calendar days to apply for an award by submitting a completed Form WB-APP to the Office of the Whistleblower.

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It is interesting to contemplate the potential fallout from such a result in an even moderately high-profile SEC whistleblower case in a post-Birkenfeld world.

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Last month's announcement by the SEC followed an investigation into a post by Netflix Inc.

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The SEC's proposal also wants to increase post-trade transparency with venues being designated on the consolidated tape.

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The SEC staff is looking at requiring disclosure of post-trade information to show which dark-pool operator is executing which trades, according to people familiar with the matter.

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Netflix expects to post a 2012 loss, the company disclosed in an SEC filing Monday afternoon.

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The SEC opened the investigation in December to determine if the post had violated rules that bar companies from selectively disclosing information.

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On second look though the SEC seems to have a valid argument regarding the Hastings Facebook post.

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According to the SEC, the men are heavily involved in the active LA Digital Post and the dormant LADP Acquisiton.

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The New York Post reported Thursday that Goldman Sachs is now considering trying to settle this case soon with the SEC.

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