The largest-ever award highlights the importance of whistleblowers to the SEC's biggest cases.
On May 5, the U.S. Securities and Exchange Commission ("SEC") awarded $279 million to a whistleblower, the agency's largest...more
The proposed amendments to the rules governing the whistleblower program, if adopted, would reverse prior amendments and provide further and significant financial incentives for whistleblowers to report potential violations...more
2/14/2022
/ Corporate Counsel ,
Corporate Misconduct ,
Enforcement Actions ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Violations ,
Whistleblower Awards ,
Whistleblower Protection Policies ,
Whistleblowers
The Situation: The SEC has brought another in a growing list of whistleblower cases critical of entities for potentially attempting to impede an individual from communicating with the agency. In July 2010, the Dodd-Frank Wall...more
SEC Whistleblower Awards to 40 individuals in 2021 surpass total awards in fiscal year 2020.
On March 29, 2021, the Securities and Exchange Commission ("SEC") announced an award of more than $500,000 to a whistleblower who...more
The highest award in the history of the SEC whistleblower program is issued to an employee who repeatedly reported misconduct internally before alerting the SEC.
On October 22, 2020, the U.S. Securities and Exchange...more
Companies should consider review of their compliance programs and procedures for addressing internal complaints or tips of potential misconduct.
On September 23, 2020, the Securities and Exchange Commission ("SEC") adopted...more
9/29/2020
/ Anti-Retaliation Provisions ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Internal Reporting ,
Policies and Procedures ,
Proposed Amendments ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Whistleblower Awards ,
Whistleblower Protection Policies ,
Whistleblowers
New efforts by states to incentivize whistleblowers financially underscore the importance of comprehensive corporate compliance programs that effectively address all internal reports of potential misconduct that may...more
8/18/2020
/ Anti-Retaliation Provisions ,
CFTC ,
Dodd-Frank ,
Enforcement Actions ,
Financial Services Industry ,
Hedge Funds ,
NASAA ,
Policies and Procedures ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Whistleblower Protection Policies ,
Whistleblowers
The Situation: The Securities and Exchange Commission ("SEC") has announced a string of substantial whistleblower awards totaling $54 million since April 1, 2020.
The Result: The financial incentives for employees or third...more
The U.S. Supreme Court unanimously held in Digital Realty Trust, Inc. v. Somers that whistleblowers must report alleged misconduct to the Securities and Exchange Commission in order to benefit from Dodd-Frank's...more
2/26/2018
/ Anti-Retaliation Provisions ,
Digital Realty Trust Inc v Somers ,
Dodd-Frank ,
Internal Reporting ,
Reporting Requirements ,
Retaliation ,
Sarbanes-Oxley ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Whistleblower Protection Policies ,
Whistleblowers
2017 will most likely be remembered as a year of transition, as the Securities and Exchange Commission’s enforcement actions indicate, at least in the near term, an emphasis on specific initiatives and retail investor...more
2/1/2018
/ Annual Reports ,
Anti-Retaliation Provisions ,
Audit Committee ,
Cybersecurity ,
Disclosure Requirements ,
Dodd-Frank ,
Enforcement Actions ,
GAAP ,
Internal Reporting ,
Item 303 ,
Non-GAAP Financial Measures ,
Regulation S-K ,
Reporting Requirements ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Whistleblower Protection Policies