Whistleblower Awards

News & Analysis as of

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

A Review of Recent Whistleblower Developments

SEC Awards Bounty to Whistleblower, But Offsets Award for a Judgment Against the Whistleblower - The extent to which the SEC would reward whistleblowers, who themselves engaged in wrongdoing, has been the subject of...more

CFTC Issues Record-High Whistleblower Bounty Award

On April 4, 2016, the U.S. Commodity Futures Trading Commission (CFTC) issued its third and largest award, of more than $10 million, as part of its Dodd-Frank whistleblower program. As was the case with the CFTC’s two...more

U.S. Commodity Futures Trading Commission Awards Record $10 Million to Whistleblower

The U.S. Commodity Futures Trading Commission (CFTC) announced on April 4, 2016 that it awarded over $10 million to a whistleblower.  This is the largest award made by the CFTC’s Whistleblower Program.  ...more

CFTC Awards More than $10 Million to Whistleblower

On April 4, 2016, the Commodity Futures Trading Commission (“CFTC”) announced a whistleblower award of more than $10 million. This is only the third whistleblower award that the CFTC has approved since the inception of the...more

CFTC’s Publication of Largest Whistleblower Award Follows Increased Focus on Whistleblowing Initiatives

On April 4, 2016, the U.S. Commodity Futures Trading Commission (“CFTC”) announced the issuance of a whistleblower award of more than $10 million for original information that it said led to a major enforcement action over...more

CFTC Announces Its Largest Whistleblower Award to Date

The Commodity Futures Trading Commission (“CFTC”) yesterday announced by far its largest whistleblower award to date, agreeing to pay “more than $10 million” to a whistleblower who provided key information leading to a...more

Your daily dose of financial news The Brief – 4.5.16

Big news from Big Mouse, as the former heir apparent to Bog Iger’s CEO chair—Thomas Staggs—is stepping down, throwing a wrench into Disney’s succession plans (which came under great scrutiny after a troublesome handoff to...more

SEC reminds whistleblowers: we feel the need…the need for speed

As we noted in our last client alert regarding the SEC’s whistleblower awards, two themes the SEC has emphasized in connection with its recent awards are...more

SEC Awards Nearly $2M in Whistleblower Bounties

On March 8, 2016, the SEC announced payment of nearly $2,000,000 in whistleblower bounty awards to three tipsters. (The order granting the award can be accessed here.) The largest of the three awards, approximately...more

Three’s Company: SEC Awards Nearly $2 Million to Whistleblower Trio

On March 8, 2016, the Securities and Exchange Commission (SEC) issued an order awarding a trio of whistleblowers a bounty of almost $2 million. One whistleblower will receive the lion’s share of the bounty — $1.8 million —...more

SEC Touts Continued Uptick in Whistleblower Tips

On Tuesday, March 8, 2016, in conjunction with announcing a recent $2 million whistleblower award, Sean McKessey, Chief of the Office of the Whistleblower, stated that the SEC continues to see “a significant uptick” in the...more

Critic of High-Frequency Trading Receives SEC Whistleblower Bounty Award

According to a MarketWatch report, Eric Hunsader of Nanex LLC has identified himself as is the recipient of a more than $700,000 Dodd-Frank whistleblower bounty award.  According to Hunsader, the information he provided to...more

Illinois Appellate Court Affirms Whistleblower’s Multi-Million Dollar Award

On March 2, 2016, an Illinois Appellate court upheld a jury verdict awarding over $3 million to Plaintiff James Crowley (Plaintiff) on his whistleblower retaliation claim under the Illinois State Official and Employee Ethics...more

Proposed Legislation Expands Whistleblower Protections

The Whistleblower Augmented Reward and Nonretaliation Act of 2016, with the confusing alternative title of the WARN Act of 2016, has been introduced before the House of Representatives. The proposed legislation would...more

The Whistleblower Augmented Reward and Non-Retaliation Act of 2016

Senator Tammy Baldwin (D-Wis.) and Rep. Elijah Cummings (D-Md.) recently introduced the Whistleblower Augmented Reward and Non-Retaliation Act of 2016 (“WARN Act”), which aims to bolster whistleblower protections under both...more

Congress to Consider New Bill Aimed at Increasing Whistleblower Rewards and Enhancing Company Liability

Leading members of the House Oversight and Government Reform Committee propose legislation to increase whistleblower rewards and expand companies’ liability for whistleblower claims. ...more

Employment Law - January 2016 #2

EU Permits Employers to Monitor Private Employee Communications - Why it matters - In a favorable ruling for employers, the European Union's (EU) highest court concluded that an employee's right to privacy was not...more

SEC’s First Whistleblower Award to Company Outsider: Game Changer?

The headlines lit up this month when the Securities and Exchange Commission (SEC) issued its first-ever award to a whistleblower who wasn’t employed by the company on which he had blown the whistle. The award was a...more

SEC Awards Whistleblower More Than $700,000

On January 15, 2016, the Securities and Exchange Commission’s Office of the Whistleblower (“OWB”) announced the award of more than $700,000 to a “company outsider who conducted a detailed analysis that led to a successful SEC...more

SEC whistleblowers are often outside the company… and the SEC wants more of them – key points for business

The SEC has announced its latest whistleblower award: more than $700,000. There are three points of note arising from the SEC's January 15 announcement and this award....more

SEC Gives First Whistleblower Award to a Company Outsider: The SEC has increased the scope of its whistleblower award program in...

What you need to know: The SEC recently awarded $700,000 to an outside industry expert whose “detailed analysis” of a company’s alleged misconduct helped the SEC bring a successful enforcement action. Although the...more

SEC $700K External Whistleblower Award Highlights Need for Watchful Compliance Programs

Last week, the SEC announced an award of $700,000 to a company outsider who conducted a “detailed analysis” resulting in a successful SEC enforcement action. In a press release, Andrew Ceresney, director of the SEC’s Division...more

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