Results Driven Securities and Exchange Commission Program and Whistleblower Awards. Exposing Misconduct.


Results Driven Securities and Exchange Commission Program and Whistleblower Awards

April 16, 2018

Taking a Bite Out of Financial Crime “The SEC has issued nearly $90 million in whistleblower awards in the past month alone,”said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. Just last week, a Securities and Exchange Commission (SEC) award exceeded $2.1 million; paid to a former company insider (a “whistleblower”). In this […]

SEC Pays Out More Than $83 Million in Largest Ever Whistleblower Awards

April 10, 2018

In what should serve as a cautionary tale for public companies, on March 19, the Securities and Exchange Commission (“SEC”) announced its largest ever Dodd-Frank whistleblower awards – totaling more than $83 million in payouts – with two whistleblowers splitting a nearly $50 million reward, and a third individual receiving more than $33 million. See SEC Release […]

SEC gives $2.2M to whistleblower in first award under ‘safe harbor’ rule

April 6, 2018

The Securities and Exchange Commission announced a whistleblower award of more than $2.2 million, the first paid under the “safe harbor” rule. The former company insider’s actions follow the Exchange Act Rule 21F-4(b)(7), which provides that if a whistleblower submits information to another federal agency and submits the same information to the SEC within 120 […]

Missouri Senate passes bill on government whistleblowers

April 5, 2018

JEFFERSON CITY, Mo. (AP) — Missouri senators on Thursday passed legislation aimed at shielding government whistleblowers from retaliation. Senators voted 30-0 in favor of the bill, which would roll back a provision of a new law that Democratic sponsor Sen. Jill Schupp said inadvertently took away protections for state workers who report misconduct or other […]

The State of Whistleblowing

April 4, 2018

We continue to read headlines of whistleblowers receiving large, sometimes, multi-million-dollar awards after successful prosecutions of companies for a variety of criminal and civil offenses.  From these headlines, we may be convinced that whistleblowers continue to grow in influence and achieving real results – the improvement of overall corporate performance.  I hate to burst the […]

The Morning Risk Report: Whistleblowers Get a Victory Against the IRS

March 30, 2018

Good morning. Two whistleblowers beat the Internal Revenue Service to claim a bigger share of a $74 million windfall, Risk & Compliance Journal reports. The dispute, resolved after the government dropped its appeal, centered on whether the IRS could share money collected as criminal penalties and civil forfeitures with the tipsters who help the agency claim […]

IRS Opens the Door Wider to Whistleblowers

March 26, 2018

Few words strike more fear in Americans than IRS audit. But now, a new law arms IRS agents with more ammunition in its pursuit for underreported income and illegal activity as the IRS takes a giant step to embracing and rewarding whistleblowers who provide the IRS with valuable information. Recently, there has been a significant […]

Takata Whistleblower Claimants Settle Fight Over Air-Bag Compensation

March 22, 2018

Three former Takata Corp. employees calling themselves whistleblowers settled a legal battle over $850 million the supplier of exploding air bags owes to car companies shouldering costs for unprecedented safety recalls. The former employees reached a settlement this week with the Japanese automotive supplier that would end their attempt to freeze $255 million of a legally mandated […]

U.S. SEC awards Merrill Lynch whistleblowers a record $83 million

March 19, 2018

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission has awarded a record $83 million to three whistleblowers tied to a 2016 settlement with Bank of America Corp’s Merrill Lynch brokerage unit, the whistleblowers’ attorney said on Monday.  The SEC announced the size of the awards on Monday but did not say which case led […]

Whistleblowers Sue City’s Top Health Insurance Providers

March 16, 2018

Three whistleblowers representing New York City employees and retirees are suing the city’s top health insurance providers for defrauding taxpayers of more than a billion dollars. The lawsuit unsealed in New York Supreme Court last month alleges that GHI, along with parent company EmblemHealth and their partner, Empire Blue Cross Blue Shield, engaged in a […]

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