Thomson Reuters Session 2: Investment Management, Hedge Funds and Registered Mutual Funds: What's Happening Now?
A Price Worth Paying?
SEC Whistleblower Program: What Employers Need to Know
Is Edward Snowden a Whistleblower?
First SEC whistleblower award-6 lessons learned
Whistleblower Tax Suits on the Rise
How do you manage your whistleblower complaints?
Getting employees to speak up when they see signs of wrongdoing is hard. Many employees struggle with initially "taking the plunge" (because that's how it may feel) for...more
What I’m about to say is grossly oversimplified, but here goes: The Dodd-Frank Act’s whistleblower provisions have two primary prongs. The first says that an individual who voluntarily provides the SEC with original...more
According to the SEC, in fiscal year 2013, foreign whistleblowers accounted for 404 of the 3,238 whistleblower reports received by the SEC (nearly 12%). Recently, the Second Circuit Court of Appeals may have significantly...more
The Dodd-Frank Wall Street Reform and Consumer Protection Act was heralded as providing whistle-blowing employees protection from retaliation by their employers. In Liu v. Siemens AG, handed down last week, the Second Circuit...more
On August 14, the United States Court of Appeals for the Second Circuit became the first U.S. appellate court to weigh in on the extraterritorial application of the whistleblower provisions of the Dodd-Frank Wall Street...more
Last week, in Liu v. Siemens, AG, the Second Circuit held that the Dodd-Frank Act’s whistleblower retaliation provision (15 U.S.C. 78u-6(h)(1)) does not apply extraterritorially, in the first Second Circuit decision to...more
FINCEN PROPOSES CUSTOMER DUE DILIGENCE RULE -
On July 30, FinCEN released a proposed rule that would amend BSA regulations to clarify and add customer due diligence (CDD) obligations for banks and other financial...more
Fraud Index Released-Startling Findings -
A survey of more than 1,400 organizations worldwide revealed startling 4th quarter results on fraud trends for 2013. The Fraud Reporting Percentage (FRP), which measures fraud...more
One of my favorite movies is Bad Day at Black Rock. It is one of the few movies to combine elements of film noir into something approaching a traditional Western. It also attacks directly the prejudice and hate against...more
On Oct. 1, 2013, the Securities and Exchange Commission (SEC) announced that it had awarded more than $14 million to an unidentified whistleblower who provided information leading to a successful enforcement action — by far...more
The second half of 2013 saw the continued expansion of FCPA enforcement by the DOJ and the SEC. The decrease in the scope of protections afforded to whistleblowers will lead to an increase in the number of FCPA potential...more
Yesterday I began an exploration of a recent article in the Corporate Board magazine, entitled “Successful Board Investigations” by David Bayless and Tammy Albarrán, partners in the law firm of Covington & Burling LLP. In...more
It is that time of year again when we dust off the compliance crystal ball and take a look at what might be in store for 2014.
1. Executive Order 13627 Changes Government Contracting -
Want a government contract...more
Marked by leadership changes, high-profile trials, and shifting priorities, 2013 was a turning point for the Enforcement Division of the Securities and Exchange Commission (the “SEC” or the “Commission”). While the results of...more
When it comes to predicting ethics and compliance trends and events for the new year, I admit I needed some help. So I reached out to two leading ethics and compliance specialists in the industry – Donna Boehme and Michael...more
As 2013 wraps up, it is that time of year again when we dust off the compliance crystal ball and take a look at what might be in store for 2014:
1. Executive Order 13627 on Trafficking in Government Contracts —...more
First, the kerfuffle surrounding the Citi matter has wholly obfuscated the SEC staff’s achievement. Understand that these structured products cases are extremely complicated. Even when assisted by whistleblowers, the facts do...more
The U.S. District Court for the Southern District of New York has held that the whistleblower protection provisions of the Dodd-Frank Act do not apply outside the United States, even where the employee alleged he was...more
Tom Cruise: Did you order a Code Red?
Jack Nicolson: You’re G__D__ right I ordered a Code Red.
The above lines were spoken in the movie version of “A Few Good Men”. If there was ever one scene which demonstrated...more
Liu v. Siemens A.G., No. 13-CV-317(WHP) (S.D.N.Y. Oct. 21, 2013) (Pauley, J.): Judge William H. Pauley III dismissed a retaliation claim under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank)...more
The SEC awarded more than $14 million to a whistleblower earlier this month in exchange for information that helped the SEC bring an enforcement action against the perpetrators of an investment fraud in less than six months...more
Two new Dodd-Frank decisions over the last week contain mixed results for employers.
In Liu v. Siemens A.G., Judge Pauley in the Southern District of New York held that Dodd-Frank’s anti-retaliation provision does not...more
On July 17, 2013, the United States Court of Appeals for the Fifth Circuit ruled in Asadi v. G.E. Energy (USA) L.L.C. that whistleblowers are only eligible for protection under Dodd-Frank when they make disclosures directly...more
Over the past two weeks there were two separate Fifth Circuit Court of Appeals cases dealing with allegations of bribery and corruption....more
This week, reports have arisen that Chinese authorities in the cities of Shanghai, Beijing, and Changsha detained high-level GlaxoSmithKline (GSK) managers as part of an investigation into potential “economic crimes.” The...more
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