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SEC Whistleblower Lawyer Blog

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Circuit Court Split On Internal Whistleblower Protection Sets Stage For Supreme Court Showdown

A key component of the Dodd-Frank Act is headed to the Supreme Court for review. The court will decide if internal whistleblowers who have not yet reported potential violations to the SEC are protected under the anti-retaliation statutes of Dodd-Frank. The Supreme Court review is necessary to resolve a split…

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Despite Trump Administration Uncertainty, SEC Whistleblower Program Reports Business as Usual

Even with political clouds of uncertainty from the Trump administration, the head of U.S Securities and Exchange Commission is moving the agency full speed ahead, all the while chastising companies that retaliate or discourage their employees from blowing the whistle on possible securities violations. Last month, Jane Norberg; the current…

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CFTC Website Launches News Portal for Whistleblower Program

  The CFTC Whistleblower program today announced the launch of a news portal, event schedule, and FAQ for its whistleblower program on its website This new portal will contain industry news, CFTC Events and a FAQ covering the Whistleblower program and information on submitting a whistleblower tip and claiming awards…

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SEC Declines Paying a Whistleblower Because the Tip Was Provided Prior to Dodd-Frank

The SEC recently declined to pay a whistleblower award to a claimant that sought the SEC’s review of its stance on payouts stemming from information provided prior to the Dodd-Frank Act’s enactment in 2010. In an SEC Order, the claimant provided whistleblower information to the SEC in 2007, three years…

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New York Settles Whistleblower-initiated Claim for $40 Million; Whistleblower Receives $8.8 Million Bounty

New York Attorney General Eric Schneiderman announced a whistleblower-initiated $40 million settlement with Alabama-based investment firm Harbert Management Corp. over unpaid state income taxes claimed instead in lower-tax Alabama. The dispute arose out of 2015 whistleblower allegations that members of Harbert failed to pay millions of dollars in taxes.  New…

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SEC Awards Nearly $4 Million to Whistleblower

The SEC announced an award of almost $4 million to a whistleblower who provided detailed, specific information about serious securities misconduct and provided ongoing assistance throughout the ensuing investigation. According to the SEC order, the SEC recommended that the whistleblower receive an award because the individual voluntarily provided original information…

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Rule 21F-17: SEC Rule Bar Companies From Attempting to Hinder Whistleblower from Coming Forward

When the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) was enacted in July 2010, the act implemented numerous protections for investors and consumers.  One of the indirect benefits was the implementation of whistleblower laws, which allows individuals to come forward and anonymously report securities violations. The Dodd-Frank…

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U.S. Supreme Court Refuses to Review Would-be Whistleblower’s Petition

The U.S. Supreme Court declined to review a former Morgan Stanly employee’s claims that he is entitled to whistleblower protections after reporting to the FBI instead of the SEC. According to a Law360 report, John S. Verble (CRD# 3197928), the would-be whistleblower, attempted to attain whistleblower protection after he reported…

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