On May 5, 2023, the Securities and Exchange Commission (“SEC”) announced that it had awarded a single whistleblower $279 million. This is the largest award made under the SEC’s Whistleblower Program by a long shot – more than...more
Takeaways:
•The Treasury Whistleblower Program now provides for guaranteed awards of 10% to 30% of the government recovery in covered actions-
•The Treasury Whistleblower Program has been expanded to include not just tips...more
2/16/2023
/ Anti-Money Laundering ,
Bank Secrecy Act ,
CFTC ,
Economic Sanctions ,
Evasion ,
FinCEN ,
Foreign Narcotics Kingpin Designation Act ,
International Emergency Economic Powers Act (IEEPA) ,
Russia ,
Trading with the Enemy Act ,
U.S. Treasury ,
Whistleblowers
The United States government has four primary whistleblower statutes and reward programs:
•The Federal False Claims Act (“FCA”)-
•The Securities and Exchange Commission (“SEC”) Whistleblower Program-
•The Internal...more
Takeaway: Misconduct in the multitrillion dollar derivatives market can lead to massive recoveries for the government and whistleblowers alike. Even when the CFTC is already on the case, a whistleblower who tips off the...more