Whistleblowers Securities & Exchange Commission

News & Analysis as of

Social Media Week Part I – Using Social Media In Your Compliance Program

Welcome to Part I of Social Media Week. I recently did a webinar, hosted by The Network, on the use of social media in your Foreign Corrupt Practices Act (FCPA) compliance program. The response was as great as almost any...more

The Financial Report - Volume 4, No. 14 • July 2015 (Global)

US lawmakers seek push out details. US Senators Elizabeth Warren and Elijah Cummings sent a letter to the country’s banking regulators asking for information concerning the effect of an amendment to the Dodd-Frank act...more

SEC Awards Third Highest Whistleblower Award to Date

On July 17, 2015, the SEC announced a whistleblower award of over $3 million to a company insider who provided information that “helped the SEC crack a complex fraud.” This payout represents the third highest award under the...more

This Week In Securities Litigation

The SEC filed three actions following-up on its settled proceeding against Oppenheimer for selling millions of shares of unregistered penny stocks. Each individual settled with the agency. In addition, the Commission brought...more

SEC Pays More Than $3 Million Whistleblower Award

On July 17, 2015, the SEC announced a whistleblower award of more than $3 million to a “company insider” whose information assisted the SEC in unveiling a “complex fraud.” This payout (which is the SEC’s third largest)...more

SEC’s Whistleblower Program Awards Over $3 million to Company Insider

On Friday, July 17, the Securities and Exchange Commission (SEC) announced that it will award more than $3 million to a company insider who helped the SEC “crack a complex fraud.”...more

SEC Announces Third-Largest Dodd-Frank Bounty Award

Whistleblowers continue to reap extraordinary awards under Dodd-Frank’s “bounty” program in exchange for bringing the Securities and Exchange Commission (SEC) “original” information that leads to a successful enforcement...more

One Tardy Whistleblower Wins SEC Award, One Loses

The SEC announced a whistleblower award of more than $3 million to a company insider whose information helped the SEC crack a complex fraud. The multi-million dollar payout is the third highest award to date under the SEC’s...more

Top Ten International Anti-Corruption Developments for June 2015

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments in the past month with links to primary...more

Increased SEC and FINRA Scrutiny on Confidentiality Provisions

Over the past several months, confidentiality provisions included in settlement agreements, employment or independent contractor contracts, or in other documents, have come under increased scrutiny in the financial industry....more

A Review of Recent Whistleblower Developments

SEC Awards Another Whistleblowing Compliance Officer - On April 22, 2015, the Securities and Exchange Commission (SEC) announced an award between $1.4 and $1.6 million to a compliance officer who provided information...more

June Whistleblower Digest | Does Your Ethics Training Adequately Cover Anti-Retaliation?

Pop quiz: what are the three criteria the SEC stated they would hold a chief compliance officer accountable for? Well, I admit that was a trick question, because even if you got them right, the SEC is ruffling feathers by...more

Second Circuit Entertains Argument on Scope of Dodd-Frank Whistleblower Provision

The Second Circuit recently entertained oral argument in Berman v. Neo@Ogilvy, focusing on whether the Dodd-Frank whistleblower protection provision covers individuals who only complain internally about alleged securities law...more

Whistleblowing: An Employer’s Guide To Global Compliance

In This Issue: - Foreword - A Summary Across Five Continents - Law and Sanctions - The Legislative Framework: Whistleblower Protections Across the Globe - Global Differences: The Cultural...more

Second Circuit Tackles “Whistleblower” Protection Under Dodd-Frank

Last week, the Second Circuit heard oral arguments in Berman v. Neo@Ogilvy, a case that places squarely before the Court the question of who is a “whistleblower” within the meaning of the Dodd-Frank Act Wall Street Reform and...more

The Foreign Corrupt Practices Act: At a Glance

In this issue: - FCPA AT A GLANCE - THE ANTI-BRIBERY PROVISIONS OF THE FCPA - TO WHOM THE ANTI-BRIBERY PROVISIONS APPLY - THE PAYMENT ELEMENT - THE CORRUPT INTENT ELEMENT - WHO IS A...more

Sixth Circuit Changes Course on Proof Required to Show Protected Whistleblower Activity Under SOX

The Sarbanes-Oxley Act (SOX) provides anti-retaliation protection to whistleblowers who engage in “protected activity.” To engage in protected activity under SOX, the whistleblower must provide information to the Securities...more

Recommended Actions for Hedge Fund, Private Equity Fund and Other Private Fund Advisers To Prevent Possible Whistleblower...

On April 1, 2015, the Securities and Exchange Commission (SEC) announced that it had settled its first enforcement action under SEC Rule 21F-17, which prohibits companies from taking actions or using confidentiality...more

May Whistleblower Digest | Spend on Compliance Training Now, Avoid $450M Fine Later

The SEC has been busy this past month (as always). SEC Chair May Jo White shared that the SEC is less than thrilled with reports that some companies are trying to restrict employees from receiving whistleblower awards. As you...more

Senn on 10 Best Practices in a Cross-Border Investigation – Part II

Today I conclude a two-part series on how to formulate an effective best practices cross-border investigation based upon an interview I did with Mara Senn, a partner at Arnold & Porter LLP, who specializes in white collar...more

Corporate Investigations & White Collar Defense - May 2015

It’s an Absolute Privilege to Meet You! Texas Supreme Court Rules That Internal Investigation Report Provided by Shell Oil to DOJ Enjoys “Absolute Privilege” - Why it matters: On May 15, 2015, the Texas Supreme Court...more

A Compilation of Enforcement and Non-Enforcement Actions

Compliance Issues With Private Equity Fund Managers Remains a Concern With the SEC - In May of last year, the SEC rang the alarm bells after conducting sweep examinations of private equity fund managers. At that time, the SEC...more

WSJ: Whistleblowers Claim That SEC Bounty Program Lacks Transparency

On May 25, 2015, the Wall Street Journal published an article reporting that tipsters have found it difficult to collect financial awards from the SEC after filing whistleblower claims....more

Economic Downturn Week, Part II – The Golden Gate Bridge and Employment Separation – Hotlines and Whistleblowers During Layoffs

I use the Golden Gate Bridge as an entrée to my continued discussion on the series on steps that you can use in your compliance program if you find yourself, your company or your industry in an economic downturn. Whether you...more

Cross-Border Investigations Update - May 2015

In This Issue: - Recent Prosecutions and Settlements: FCPA Enforcement Trends and Developments: Recent U.S. Foreign Corrupt Practices Act enforcement trends include the growing importance of corporate...more

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