Through three orders, the SEC issued awards to four people that totaled over $40 million. In the first proceeding, the SEC awarded two individuals a bounty of $37 million that provided crucial evidence leading to the success of the covered action. One individual helped SEC staff understand the evidence provided,…
The Securities and Exchange Commission has kept busy, even through the holidays. On January 10th, 2022, the SEC put out a press release announcing that three more people have received bounties after working with SEC staff to identify and discontinue wrongdoing in the financial sector. The first whistleblower reported their…
Given both the breadth of the activities that can constitute violations of the Foreign Corrupt Practices Act (FCPA) (since it precludes giving anything of value) and the severity of the possible penalties (prison terms and millions of dollars in fines), the Department of Justice (DOJ) and Securities and Exchange Commission…
Both the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are responsible for enforcement of the Foreign Corrupt Practices Act (FCPA). And as this dual-enforcement mechanism suggests, FCPA violators can face criminal and civil penalties, and there are punishments for both the responsible individuals and the entities…
SEC Whistleblower attorneys Scott Silver and David Chase were recently the featured guests on ‘Cut To The Chase’ podcast to discuss the SEC whistleblower program and their work representing whistleblowers. Cut To The Chase podcast is hosted by attorney and activist Gregg Goldfarb and focuses on legal news and public…
In three orders, the SEC announced the award of $10.4 million to several whistleblowers for information that led to three different enforcement actions. In the first order, two whistleblowers collected a total of $7.5 million. Both individuals offered important new information for an ongoing investigation regarding fraudulent activity in several…
The SEC has announced its latest whistleblower awards for two individuals in the same case. The first whistleblower received a bounty of more than $12.5 million after alerting the SEC to an ongoing fraudulent scheme. As a result, SEC staff initiated an investigation and the whistleblower offered continued support to…
A whistleblower whose original information led to an investigation by the U. S. Department of Justice (DOJ) has also received a bounty of $2M from the Securities and Exchange Commission (SEC). Recent amendments to the whistleblower rules mean that DOJ actions, such as deferred and non-prosecution agreements, are now subject…
Let me be clear: Retaliation protections are a key component of the whistleblower program, and we will bring charges against companies or individuals who violate the anti-retaliation protections when appropriate. —Jay Clayton, Former Chairman, Securities and Exchange Commission It’s axiomatic that whistleblowing only works if people are willing to come…
Suppose you’re aware of violations of securities laws at your place of employment but you are concerned that an employment agreement may prevent you from becoming a whistleblower. In that case, it’s always best to consult with an attorney. The securities whistleblower attorneys at the Law Firm of David R.…