News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act Whistleblowers Foreign Corrupt Practices Act (FCPA)

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Pietragallo Gordon Alfano Bosick & Raspanti,...

UK’s View Across The Pond At U.S. Whistleblower Program Success – Time To Incentivize Tipsters?

Several recent developments may spark a renewed effort to incentivize United Kingdom (UK)-based whistleblowers who frequently provide tips to U.S.-based agencies, such as the Security and Exchange Commission (SEC). The...more

Maynard Nexsen

Lessons for Employers from Commodity Trader’s Conviction Under Foreign Corrupt Practices Act

Maynard Nexsen on

On February 24, 2024, a federal jury in New York convicted former oil and gas trader Javier Aguilar of conspiracy to violate the Foreign Corrupt Practices Act (FCPA), violating the FCPA, and conspiracy to commit money...more

Kohn, Kohn & Colapinto LLP

OECD Recommendations and U.S. Anti-Corruption Strategy Show U.S. Should Award Whistleblowers who Report to Media

Both the Organisation for Economic Co-operation and Development (OECD) and the U.S. Strategy on Countering Corruption recognize that the news media plays a vital role in the detection of bribery and other acts of corruption...more

Dorsey & Whitney LLP

DOJ to Develop New Whistleblower Program to Augment Existing Federal Whistleblower Programs

Dorsey & Whitney LLP on

Last week Deputy Attorney General Lisa Monaco announced that the U.S. Department of Justice (DOJ) will soon begin a pilot program to reward whistleblowers who alert prosecutors to significant corporate misconduct. The goal of...more

Freiberger Haber LLP

Enforcement News: SEC Charges Investment Advisor With Violating Whistleblower Protection Rule

Freiberger Haber LLP on

We have often written about the SEC’s whistleblower program and, in particular, the success of the program with respect to detecting and preventing violations of the federal securities laws. The success of the program...more

Paul Hastings LLP

Recent Whistleblower Activity Increases Pressure on Internal Reporting and Investigation Mechanisms

Paul Hastings LLP on

On May 5, 2023, the Securities and Exchange Commission (“SEC”) granted its largest-ever whistleblower award of $279M to an individual, reportedly stemming from Ericsson’s $1.1B settlement to resolve claims that the...more

StoneTurn

Whistleblower Day 2023: The (R)evolution of Speaking Up

StoneTurn on

On July 30, 1778, the Second Continental Congress passed the Whistleblower Protection Act of 1778, which is considered to be the first whistleblower law in world history. Much has changed in two and a half centuries, but very...more

Wiley Rein LLP

SEC Annual Whistleblower and Enforcement Reports Signal Continued Aggressiveness in 2023 and Beyond

Wiley Rein LLP on

On November 15, 2022 the U.S. Securities and Exchange Commission (SEC) released its Dodd-Frank Whistleblower Program fiscal year (FY) 2022 Annual Report to Congress. The same day, the SEC reported on the Enforcement...more

Kohn, Kohn & Colapinto LLP

The SEC Should Utilize its Whistleblower Program to Combat Climate Change

In March, the Securities and Exchange Commission (SEC) alerted the public it was seeking input on its requirements for Environmental, Social, and Corporate Governance (ESG) disclosures by corporations. Increasingly...more

Kohn, Kohn & Colapinto LLP

Will Europe Fail to Protect Whistleblowers?

Pursuant to a Directive enacted by the European Parliament and Council, all 27 nations within the European Union (EU) must “bring into force” whistleblower protection “laws, regulations and administrative provisions” by...more

King & Spalding

Tokyo Dispute Resolution & Crisis Management Newsletter - February 2021 - U.S. & Americas Enforcement Review 2020

King & Spalding on

As 2020 drew to a close, enforcement authorities throughout the United States and the Americas continued to investigate fraud, corruption, and other misconduct across the region. In this newsletter, we highlight some...more

King & Spalding

Q4 2020: Latin America Enforcement Review

King & Spalding on

As 2020 drew to a close, enforcement authorities throughout the United States and the Americas continued to investigate fraud, corruption, and other misconduct across the region. Below, we highlight some developments from...more

Thomas Fox - Compliance Evangelist

Why the Board of Directors Need an Investigation Protocol

Many companies have an investigation protocol in place when a potential compliance or other legal issue arises. However, many Boards of Directors do not have the same rigor when it comes to an investigation, which should be...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - June 2019

ANTICORRUPTION DEVELOPMENTS - Deputy Assistant Attorney General Matt Miner Delivers Remarks at the American Bar Association, Criminal Justice Section Third Global White Collar Crime Institute Conference - On June 27,...more

Foley & Lardner LLP

A Review of Recent Whistleblower Developments - April 2019

Foley & Lardner LLP on

Whistleblower Developments is a periodic report covering significant cases, decisions, proposals, and legislation related to whistleblower statutes and how they may impact your business. Recent developments include: Fifth...more

Proskauer - Whistleblower Defense

Ninth Circuit Affirms Most of Jury Verdict in Former GC’s SOX Whistleblower Lawsuit

On February 26, 2019, the Ninth Circuit affirmed much of a jury’s approximately $11M verdict finding that a former general counsel was discharged in retaliation for reporting alleged Foreign Corrupt Practices Act (“FCPA”)...more

Allen Matkins

9th Circuit Holds FCPA Is Not A "Rule Or Regulation" Of The SEC

Allen Matkins on

In 2013, Sanford Wadler, the General Counsel of Bio-Rad Laboratories, Inc., delivered a report to the company's audit committee. His report expressed his belief that the company had engaged in serious and prolonged violations...more

Foodman CPAs & Advisors

Should Business Owners rely on Whistleblowers or Forensic Accountants?

Foodman CPAs & Advisors on

According to a recent Foreign Corrupt Practices Act (FCPA) Blog entry (11/28/18), over 40% of internal frauds are discovered by whistleblowers and statistics show that 74% of whistleblowers are terminated. ...more

Farella Braun + Martel LLP

Battling Government Investigations Series – Cooperation and Voluntary Disclosure

It always comes when you least expect it – a government inquiry to investigate your business. While it may instill a sense of panic, there are steps you can take to make sure you’re in the best position possible when the...more

Saul Ewing LLP

SEC Pays Out More Than $83 Million in Largest Ever Whistleblower Awards

Saul Ewing LLP on

In what should serve as a cautionary tale for public companies, on March 19, the Securities and Exchange Commission (“SEC”) announced its largest ever Dodd-Frank whistleblower awards – totaling more than $83 million in...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS – U.S. Agencies Decline to Prosecute Teradata for Alleged FCPA Violations – On February 26, 2018, Teradata Corporation, an Ohio-based enterprise software database management company,...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS – U.S. Agencies Decline to Prosecute Teradata for Alleged FCPA Violations – On February 26, 2018, Teradata Corporation, an Ohio-based enterprise software database management company,...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - February 2018

ANTICORRUPTION DEVELOPMENTS – U.S. Agencies Decline to Prosecute Teradata for Alleged FCPA Violations – On February 26, 2018, Teradata Corporation, an Ohio-based enterprise software database management company,...more

Saul Ewing LLP

SEC’s Office of the Whistleblower Ends 2017 With a Bang

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Just in time for the holiday season, the U.S. Securities and Exchange Commission (“SEC” or “Commission”) has brought joyful news to three whistleblowers who will receive substantial awards of over $8 million each to two...more

Manatt, Phelps & Phillips, LLP

Corporate Investigations and White Collar Defense - October 2017

Supreme Court to Hear Important Whistleblower Case - Why it matters: Must an employee “whistleblower” specifically provide information about alleged corporate misconduct to the Securities and Exchange Commission (SEC) in...more

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