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…
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 regulatory agency has requested public comment on proposed amendments The Commodity Futures Trading Commission (CFTC), the independent US government agency that regulates futures and options markets, has requested public comment on proposed amendments to their rules regarding whistleblowers. Specifically, the changes are intended to streamline the process for whistleblowers…
The Securities and Exchange Commission (the “SEC’) announced on December 9, 2016 that it had awarded more than $900,000 to a whistleblower whose tip enabled the SEC to bring multiple enforcement actions against bad actors. The nearly-$1 million award is the second award announced by the SEC this week and…
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 sound of a whistle on Wall Street blew loudly this week for one informative whistleblower. What did that whistle sound like? It sounded like $20 million. On November 14, 2016, the Securities and Exchange Commission (“SEC”) announced an award of more than $20 million to a whistleblower who gave…
On September 29, 2016, the Securities and Exchange Commission (the “SEC”) announced that casino-gaming company International Game Technology (“IGT”) agreed to pay a $500,000 penalty for firing an employee who reported to senior management and the SEC that the company’s financial statements might be distorted. The whistleblower retaliation case is…
The Securities and Exchange Commission announced on September 28, 2016 that Anheuser-Busch InBev agreed to pay $6 million to settle charges that the company violated the Foreign Corrupt Practices Act (FCPA) and attempted to silence a whistleblower who reported the misconduct. An SEC investigation found that the company used third-party…