The concept of "qui tam":
A) Was first established in the United States by the False Claims Act and has been mimicked by various state laws
B) Was first established in the United States by the False Claims Act, but gained widespread application when it was enacted as a core element of the Sarbanes-Oxley Act
C) Is an effective deterrent in Europe against accounting fraud and, according to critics, should be adopted in the United States
D) Enables the SEC to recover an equal share of all investor recoveries obtained in private investor lawsuits

Question

Quizplus · Accepted Answer

The concept of "qui tam" was first established in the United States by the False Claims Act in 1863. It allows private individuals (known as "whistleblowers") to file lawsuits on behalf of the government against companies or individuals that have committed fraud against the government. Various states have also enacted their own versions of the False Claims Act.

The Concept of "Qui Tam