Whistleblower Awards

News & Analysis as of

The Whistle Blows Again: SEC Pays Second Largest Whistleblower Bounty Award

On June 9, 2016, the Securities and Exchange Commission (‘SEC”) awarded the second largest whistleblower bounty – $17 million – granted under the Dodd-Frank whistleblower rules to date. Previously, the highest whistleblower...more

SEC Issues Near Record-Breaking Whistleblower Award

On June 9, 2016, the Securities and Exchange Commission announced it awarded over $17 million to an ex-employee of a financial services firm. The SEC’s press release touts the award as the second-highest bounty ever handed...more

Employment Law This Week: Record Whistleblower Award, Union Election Rules, Wellness Program Rewards, Mixed-Guard Units [Video]

We invite you to view Employment Law This Week - a weekly rundown of the latest news in the field, brought to you by Epstein Becker Green. We look at the latest trends, important court decisions, and new developments that...more

June Marks Upsurge in SEC Whistleblower Awards

On June 9, 2016, the SEC announced a $17 million whistleblower award to “a former company employee whose detailed tip substantially advanced the agency’s investigation and ultimate enforcement action.” This is the...more

Substantial Awards Available for the Taking: SEC Announces $17 Million Whistleblower Award

On June 9, 2016, the United States Securities and Exchange Commission announced its second largest award under the agency’s Dodd-Frank Whistleblower Program. This is the largest such award issued since the SEC issued a $30...more

SEC Issues $17 Million Whistleblower Award

On June 9, 2016, the SEC issued a stunning $17 million award to a former employee, whose “detailed tip” provided original information to SEC enforcement staff that “substantially advanced their investigation” into the...more

SEC Issues $26M in Whistleblower Awards Over One-Month Period

In a clear sign of the increased awareness – and effectiveness – of the SEC’s whistleblower program, the SEC awarded five whistleblowers a total of over $26 million for their assistance in four separate enforcement actions...more

No Bounty For Purported Tipster

On May 31, 2016, the U.S. Securities and Exchange Commission (“SEC”) issued an order upholding the SEC Claims Review Staff’s (“CRS”) Preliminary Determination denying a claim for a whistleblower award in connection with the...more

Hittin’ The Trifecta: Latest Whistleblower Bounty Makes Three Awards In One Week

On Friday, May 20th, the SEC’s Office of the Whistleblower issued an order determining that it would award two whistleblowers $450,000 for voluntarily providing original information to the agency that led to a successful...more

Hittin’ The Trifecta: Latest Whistleblower Bounty Makes Three Awards In One Week

On Friday, May 20th, the SEC’s Office of the Whistleblower issued an order determining that it would award two whistleblowers $450,000 for voluntarily providing original information to the agency that led to a successful...more

Tipping the Scales: Whistleblower Awarded $3.5 Million For Information That Advanced SEC Investigation

Last Friday, the SEC announced a whistleblower award of more than $3.5 million to an employee whose tip advanced an SEC investigation into the whistleblower’s company. According to the Order, while the information the...more

Bridging the Week - May 2016 #4

Two Related Broker-Dealers To Pay US $17 Million for Widespread AML Compliance Failures; Former AML Compliance Officer Also Sanctioned: Raymond James & Associates, Inc. (RJA), Raymond James Financial Services, Inc....more

Fourth Circuit Upholds Four-Year Front-Pay Award To Whistleblower

On May 20, 2016, the Fourth Circuit affirmed the decision of the ARB, finding that a former employee of Deltek, Inc. (Company) was retaliated against in violation of Section 806 of SOX and entitled to four years’ worth of...more

Citadel, a $24-Billion Hedge Fund, Seeks Whistleblower Status

Just a few months after announcing the first-ever award to an outside whistleblower, federal authorities may be on the verge of expanding the reach of whistleblower incentives even further. Last week, Citadel, the...more

It's Not Over Until the Last Whistle Blows: Beware of the Mid-Investigation Tip

On May 13, 2016, the Securities and Exchange Commission (SEC) caught many off guard when it issued an award to a whistleblower whose mid-investigation tip “significantly contributed” to the success of the resulting...more

Whistling Fast and Furious: The SEC Issues Two Multimillion Dollar Awards to Whistleblowers

In the past week, the SEC has issued two multimillion dollar awards to whistleblowers. The announcement of two significant awards in quick succession suggests that the “significant uptick” in in the number of tips noted by...more

This Week In Securities Litigation

The Supreme Court concluded this week that a suit based on short selling filed in state court alleging state law causes of action was not preempted by the exclusive jurisdiction provision of Exchange Act Section 27 simply...more

SEC Awards Millions to Two More Whistleblowers

On May 13th and 17th, 2016, the U.S. Securities and Exchange Commission (SEC) announced that it had given awards of over $3.5 million and $5 million to two different whistleblowers. The Dodd-Frank Wall Street Reform and...more

Securities and Exchange Commission Awards $5 Million to Whistleblower

The Securities and Exchange Commission (SEC) announced May 17, 2016, that it will award between $5-6 million to a former company insider who provided detailed information to the SEC, paving the way for the agency to “uncover”...more

SEC Issues Two Multi-Million Dollar Whistleblower Awards

Over the past week, the U.S. Securities and Exchange Commission (“SEC”) announced two multi-million dollar awards to whistleblowers who provided the SEC with information in ongoing investigations. On May 13, 2016, the...more

Here’s a Tip: “Substantial and Important Contributions” to Pre-Existing SEC Investigations Can Pay Off For Whistleblowers

In a move evidencing the SEC’s continued commitment to its whistleblower program, the Commission announced on Friday that it has awarded a whistleblower over $3.5 million for providing information that did not lead to a new...more

CFTC announces its largest whistleblower award to date – key takeaways

The US Commodity Futures Trading Commission has announced its third and largest whistleblower award to date – an award of more than $10 million – to a whistleblower who provided information that led to a successful CFTC...more

Investment Management Update - April 2016

Below is a summary of recent investment management developments that affect registered investment companies, private equity funds, hedge funds, investment advisers, and others in the investment management...more

This Is Not a Test: The CFTC Joins the SEC and IRS in Awarding Substantial Whistleblower Bounties

Who can tune out those periodic blaring interruptions to our favorite television programs? This is a test. For the next 60 seconds, this station will conduct a test of the Emergency Broadcast System. This is only a test. In...more

CFTC Announces $10 Million Whistleblower Award, Its Largest Award Yet

The Commodity Futures Trading Commission (“CFTC”) recently announced the largest ever award under its Whistleblower Program created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The whistleblower...more

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