Posts Tagged ‘whistleblower rewards’

Whistleblower Fix Lurches Forward Again

internal reporting

More whistleblower protection news from Washington: the House has passed a bill to undo the damage of the Digital Realty Trust decision from the Supreme Court last year, which said that employees must first report their allegations to the SEC if they want to claim whistleblower protections under the Dodd-Frank Act. On Tuesday the House…

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Another SEC Award Favoring Compliance

whistleblower

The Securities and Exchange Commission handed out a $3 million whistleblower award on Monday to two whistleblowers who first tried to report and fix their firm’s misconduct internally — yet another sign that the SEC is at least trying to nudge whistleblowers to work with corporate compliance departments. In another twist, the SEC also waived…

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Oh Come On, CFTC…

cftc

Well this takes the whistleblowing cake: the Commodities & Futures Trading Commission is promoting its whistleblower program at a cryptocurrency conference in New York this week, complete with a booth in the hallway and free CFTC whistles handed out to attendees. The event is Consensus 2019, a conference hosted by news website Coindesk to discuss…

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Progress on Whistleblower Fix

retaliation

One step forward for compliance officers and effective whistleblowers: the House Financial Services committee has approved a bill to undo the damage of the Digital Realty Trust decision from the U.S. Supreme Court in 2018, which said that whistleblowers must first report their allegations to the SEC if they want to claim whistleblower protections. The…

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Whistleblower Award Boosted for Reporting Internally

whistleblower

News from the world of whistleblower awards: the Commodities & Futures Trading Commission awarded a $1.5 million “enhanced award” to some lucky person on Monday, because that whistleblower first tried to report his or her concerns internally. As always with whistleblower awards, we don’t know too many facts in the case. But Christopher Ehrman, head…

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$50M SEC Whistleblower Award

whistleblower

The Securities and Exchange Commission handed out two big whistleblower awards Tuesday that sent an unmistakable message to the employee whistleblowers about whom compliance officers worry so much: if you want a crack at that award, report to the agency promptly, and bring all the information you can. The headline is that the SEC spilt…

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Dispatches From Securities Enforcement Forum

enforcement

Scads of securities lawyers gathered in Washington on Thursday for the annual Securities Enforcement Forum, a one-day confab on all things related to enforcement actions against publicly traded companies — insider trading, FCPA, cybersecurity, whistleblower retaliation, and much more. The event is run by SecuritiesDocket.com, which follows securities enforcement just as obsessively as we follow…

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$54M SEC Whistleblower Award

compliance

The SEC doled out another huge whistleblower award on Thursday, this time splitting $54 million between two whistleblowers in a case with enough special circumstances to make your head spin. The first recipient, Claimant 1, received $39 million, the second-largest award the SEC has ever given. That said, the SEC denied Claimant 1 even more…

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Update on SEC Whistleblower Reforms

whistleblower

The compliance community has less than two weeks left to submit comments on the Securities and Exchange Commission’s proposed revamp of its whistleblower awards program. So far, most of the comments received are not flattering. The SEC voted 3-2 along party lines in June to issue the proposed tweaks to the whistleblower program, which has…

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On SEC Whistleblower Reforms

retaliation

Corporate compliance officers deal with whistleblowers all the time. So now that the Securities and Exchange Commission is moving to revamp its whistleblower award program, watch that debate closely. Lots of constituencies are going to voice opinions here, and you don’t want yours to get lost in the fray. The SEC published its proposed reforms…

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