The SEC announced an award of over $7 million split among three (3) whistleblower who helped the SEC litigate an investment scheme. The SEC began their investigation when one of the whistleblowers provided a tip to the SEC. The initial whistleblower will receive more than $4 million for his initial…
Firm managing $5.1 trillion is forced to change improper employee whistleblower policy Until recently, the world’s largest investment management firm forced ex-employees to sign away their rights to potential whistleblower awards in order to receive employee separation package payments. BlackRock, Inc., which has 30 offices in 70 countries, was charged…
The Securities and Exchange Commission (the “SEC”) announced an award of more than $5.5 million to a whistleblower who provided pertinent information that helped the SEC uncover an ongoing scheme on January 6, 2017. According to the SEC’s order, the whistleblower was employed at the company involved in the wrongdoing. …
The Securities and Exchange Commission (the “SEC’) announced on December 5, 2016 that it had awarded a whistleblower approximately $3.5 million for coming forward with information that led to an SEC enforcement action. The $3.5 million whistleblower award brings the total amount awarded to whistleblowers to $135 million to 36…
The Securities and Exchange Commission announced on September 20, 2016 an award of over $4 million to a whistleblower. The whistleblower’s original information alerted the SEC to a fraud. The SEC whistleblower program was established by Congress in 2011 to incentivize whistleblowers with specific, timely and credible information about federal…
On August 30, 2016, the Securities and Exchange Commission (“SEC”) announced the award of more than $22 million to a company insider whistleblower. According to the SEC order, the SEC determined the whistleblower’s tip and extensive assistance helped the agency stop a well-hidden fraud at the whistleblower’s employing company. The…
The Securities and Exchange Commission has awarded at least $8.95 million to four whistleblowers in May 2016. The first award was on May 13, 2016, when the SEC awarded a whistleblower $3.5 million for providing a tip that strengthened the SEC’s case in an ongoing investigation. According to the order…
The U.S. Commodity Futures Trading Commission (“CFTC”) announced on April 4, 2016 an award of more than $10 million to a whistleblower who provided important, original information that led to a successful CFTC enforcement action. The award is the largest made by the CFTC’s whistleblower program, according to a CFTC…