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
The U.S. Securities and Exchange Commission (SEC) recently released its annual report on its new whistleblower program, and according to that report, whistleblower tips and awards through the agency are on the rise. This year...more
By all accounts, 2014 was a year of tremendous success for the SEC’s Dodd-Frank Whistleblower Program. According to its 2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program, the SEC paid nine whistleblower...more
On November 17, the U.S. Securities and Exchange Commission issued its 2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program and it is clear that the program is going strong. Following are six key takeaways...more
The Department of Justice (DOJ) has signaled a heightened effort to bring criminal prosecutors into the loop regarding False Claims Act referrals and other whistleblower complaints. In recent remarks at a conference comprised...more
In its 2014 Report to Congress on the Dodd-Frank Whistleblower Program, the SEC described the profile of successful whistleblowers. Because the SEC must keep the identity of whistleblowers confidential, it can only describe...more
In Regulatory Notice 14-40, FINRA reminds members that it is a violation of FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) to incorporate into a settlement agreement a confidentiality provision...more
The U.S. District Court for the Eastern District of Wisconsin in Verfuerth v. Orion Energy Systems, Inc., No. 14-cv-352 (E.D. Wis. Nov. 4, 2014) recently ruled that the Dodd-Frank whistleblower protection provision does not...more
The United States Securities and Exchange Commission’s Office of the Whistleblower has only been open since August 2011, yet it has already made a pretty big name for itself in protecting the rights of whistleblowers and...more
According to an academic study published on October 6, 2014 by Andrew C. Hall, Gerald S. Martin, Nathan Y. Sharp, and Jaron H. Wilde, the presence of whistleblowers may have a meaningful impact on the outcomes of enforcement...more
In a case of first impression within the Ninth Circuit, the U.S. District Court for the Northern District of California ruled that the whistleblower protection provision in Dodd-Frank protects whistleblowers who report...more
Ed. Note-today we have a guest post from KC Royals fan and Stinson Leonard Street partner Russ Berland.
As a Kansas City Royals fan, I would like to use this opportunity to congratulate the Royals on a great season...more
Real estate investment trust American Realty Capital Properties (“ARCP”) recently announced the preliminary findings of an Audit Committee investigation into accounting irregularities and the resulting resignation of its...more
In a number of recent posts, we have highlighted the SEC’s whistleblower program, which offers awards of 10%-30% of the money collected where a whistleblower provides high-quality, original information that results in an SEC...more
U.S. securities regulators recently announced a record-breaking $30 million payout to an anonymous whistleblower living abroad, an amount more than double the previous record of $14 million awarded in 2011. This marks the...more
An academic study, first reported by the WSJ, concludes that, in regulatory enforcement actions brought by the SEC and DOJ alleging financial misrepresentation, employee whistleblowers have a consequential impact on...more
This month, FINRA issued guidance notice 14-40 to reminds firms that “it is a violation of FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) to include confidentiality provisions in settlement agreements...more
According to Law360, the director of the SEC’s whistleblower office, Sean McKessy, is exhorting the staff of that office to set a high priority on cases involving employer retaliation for whistleblower complaints. During an...more
As reported this week by Law360 (subscription required), the Financial Industry Regulatory Authority (FINRA) recently issued a reminder (Regulatory Notice 14-40) warning firms against the use of confidentiality provisions in...more
All Whistleblowers, listen up! Seven figure chump change or eight-figure bonanza, what will it be?
Several events happened in the last few months to inspire conversation about whistleblowers. First, on July 30, 2014,...more
On September 16th, I, along with 1,300 compliance professionals, sat in the Grand Ballroom at the Hyatt Regency in Chicago for SCCE’s 13th Annual CEI 2nd general session. Specifically, we had gathered to hear U.S. Department...more
On July 31, 2014, the SEC awarded $400,000 to a whistleblower who had reported internally before providing information to the SEC. The award was unique because the SEC’s Claims Review Staff had denied the whistleblower’s...more
Two recent Dodd-Frank whistleblower awards suggest that the program is becoming the kind of “game changer” for law enforcement that many had predicted. The program, which took effect in August 2011, mandates the payment of...more
The SEC has announced its largest-ever Dodd-Frank whistleblower award: between $30 and $35 million. While the amount of the award is eye-popping on its own, the Commission’s order awarding the whistleblower’s claim – the...more
For the first time the Securities and Exchange Commission (“SEC”) made an award ($300,000) to a whistleblower performing a compliance and audit function within a public company after the company failed to take action on the...more
The Securities and Exchange Commission has underscored the importance of a timely response to internal reports of wrongdoing by awarding $300,000 to a whistleblower who was an audit and compliance employee....more
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