Posts Tagged ‘whistleblower rewards’

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

whistleblower

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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SEC Starts Regulatory Reform Push

SEC

The Securities and Exchange Commission began moving forward this week on its ambitions to craft a more business-friendly regulatory regime, starting with plans to exempt many more companies from compliance requirements and to cap potential rewards to whistleblowers. Most notable for ethics and compliance officers, the commissioners voted (along the predictable 3-2 partisan split, favoring…

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About That Record New Whistleblower Award…

whistleblower

Take a moment to be dazzled by the $83 million whistleblower award the Securities and Exchange Commission announced on Monday, but spend more time poring over the details and footnotes the SEC included in its award order. Compliance officers may not like the implications of what you find there. The $83 million award was divided…

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16 Tweets About One Whistleblower Ruling

whistleblower

As most compliance officers know by now, this week the Supreme Court handed down a ruling that narrowed the scope of whistleblower protections allowed under the Dodd-Frank Act. Yesterday I broke usual form and talked about the ruling, Digital Realty Trust v. Somers, via “tweetstorm.” Without further delay, here are the tweets again for anyone…

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First SEC Whistleblower Award of Trump Era

whistleblower

Some lucky corporate whistleblower received $4 million from the Securities and Exchange Commission today, the first whistleblower award issued under the Trump Administration—with an added layer of mystery about whether the award was based on a sanction imposed by a non-financial regulator. As usual, we don’t know much about the case. According to the SEC’s…

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SEC Clips Whistleblower Reward for Misconduct

whistleblower

I didn’t notice this SEC enforcement until now, but 10 days ago the agency doled out a whistleblower award—and trimmed the final prize to the tipster, because that person both participated in the misconduct and took his sweet time before alerting the SEC. Alas, we don’t know many more details about this case. We don’t…

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A Whistleblower Sanction Worth Your Attention

whistleblower

As compliance officers wait to see how the Trump Administration might try to change patterns of SEC enforcement, you may want to consider a case last week where the SEC fined a consumer bank for accounting improprieties and whistleblower pre-taliation at the same time. The firm in question is HomeStreet, a bank based in Seattle…

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