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Category Archives: Corporate Whistleblowers

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SEC: Incentives for Whistleblowers Best Way to Uncover Securities Law Violations

Posted in Corporate Whistleblowers, International
Dodd-FrankWashington, DC, November 16, 2016. The Securities and Exchange Commission (SEC) Whistleblower Program had its most successful year to date in 2016. The agency, which issued its annual report to Congress today, reports it issued awards totaling over $57 million in 2016—higher than all award amounts issued in previous years combined. The Office of the Whistleblower (OWB) received over 4,200… Continue Reading

Brazilian Aircraft Maker Settles Bribery Charges for $205 Million

Posted in Claim SEC Award, Corporate Whistleblowers, International
Embraer_190-335x223On Tuesday October 25th, the Securities and Exchange Commission announced a global settlement along with the U.S. Department of Justice and Brazilian authorities that requires aircraft manufacturer Embraer S.A. to pay more than $205 million to resolve alleged violations of the Foreign Corrupt Practices Act (FCPA).… Continue Reading

Och-Ziff Hedge Fund Pays Over $400 Million to Settle Foreign Bribery Charges

Posted in Claim SEC Award, Corporate Whistleblowers
Och-Ziff Hedge Fund Pays Over $400 Million to Settle Foreign Bribery ChargesWashington D.C. October 9, 2016.  Och-Ziff Capital Management Group (Och-Ziff), A New York-based alternative investment and hedge fund manager, agreed to pay a combined total amount of U.S. criminal and regulatory penalties of approximately $412 million to settle charges it violated the Foreign Corrupt Practices Act.  In separate announcements yesterday the Securities and Exchange Commission (SEC) and the Department of… Continue Reading

Wells Fargo Whistleblower Cases Will Get Second Look

Posted in Corporate Whistleblowers
Wells Fargo Whistleblower Cases Will Get Second LookWashington, D.C. September 28, 2016. U.S. Secretary of Labor Thomas Perez vowed a “Top-to-Bottom” review of whistleblower complaints filed by Wells Fargo employees over the last six years. Sec. Perez made this promise in response to a request last week by several Senators, including Senator Elisabeth Warren, for the Department of Labor (DOL) to investigate whether Wells Fargo violated the… Continue Reading

New Chief of SEC Whistleblower Office Named

Posted in Corporate Whistleblowers
SEC Says Employees Protected For Internal WhistleblowingThe Securities and Exchange Commission (SEC) announced that Jane Norberg will now head its whistleblower office.  The SEC Office of the Whistleblower reviews whistleblower tips, evaluates whistleblower award claims, and makes recommendations on whether claimants should receive an award for their information. Ms. Norberg has served as acting chief since the departure of Sean McKessy in July.… Continue Reading

SEC Whistleblower Awards Top $100 Million

Posted in Corporate Whistleblowers
SECTop10image-670x335The Securities and Exchange Commission (SEC) announced August 30, 2016 that it has awarded over $100 million to whistleblowers since its inception in 2011.  The SEC’s whistleblower program was established by Congress to incentivize whistleblowers with specific, timely and credible information about federal securities law violations to report to the SEC.… Continue Reading

CFTC Asks for Public Comments on Whistleblower Rule Changes

Posted in Corporate Whistleblowers, News
200px-US-CFTC-Seal_svg.pngThe U.S. Commodity Futures Trading Commission (CFTC) announced today that it is requesting public comment on proposed amendments to the Whistleblower Rules found in Part 165 of the CFTC’s Regulations. The CFTC announcement states: “The amendments would enhance the process for reviewing whistleblower claims and make related changes to clarify staff authority to administer the whistleblower program. The proposal will also strengthen… Continue Reading

Deutsche Bank Whistleblower Should Accept SEC Whistleblower Award

Posted in Claim SEC Award, Corporate Whistleblowers
Deutsche Bank Whistleblower Should Accept SEC Whistleblower AwardThere are more effective ways to protest lax enforcement of financial fraud Last week, it was widely reported that Eric Ben-Artzi, a Deutsche Bank whistleblower stated he will refuse a portion of his whistleblower award from the U.S. Securities and Exchange Commission’s whistleblower program.   Mr. Ben-Artzi had worked at the bank as a vice president and he tells an all… Continue Reading

SEC Fines Company for Whistleblower Protection Violations

Posted in Corporate Whistleblowers
MuzzleWhistleblower-335x198Washington D.C., Aug. 10, 2016 —The Securities and Exchange Commission today announced that an Atlanta-based building products distributor is settling charges that it violated securities laws by using severance agreements that required outgoing employees to waive their rights to monetary recovery should they file a charge or complaint with the SEC or other federal agencies.… Continue Reading

SEC Whistleblower Awards List June 2016

Posted in Claim SEC Award
SEC Says Employees Protected For Internal WhistleblowingThe SEC Office of the Whistleblower posts Notices of Covered Action where a final judgment or order, by itself or together with other prior judgments or orders in the same action issued after July 21, 2010, results in monetary sanctions exceeding $1 million. Subject to the Final Rules, individuals who voluntarily provided the Commission with original information after July 21, 2010 that led… Continue Reading

Sean McKessy, Chief of SEC’s Whistleblower Office, Leaving Agency Later This Month

Posted in Corporate Whistleblowers, News
SEC Says Employees Protected For Internal WhistleblowingWashington, D.C., July 8, 2016. Last week, the Securities and Exchange Commission announced that the Chief of the Office of the Whistleblower, Sean McKessy, would leave the agency in July. Mr. McKessy was the first head of the SEC’s whistleblower program and helped to establish the important and effective whistleblower office.… Continue Reading

National Whistleblower Center Launches Campaign to Protect Auto Safety Whistleblowers

Posted in Corporate Whistleblowers
Car_crash_1The National Whistleblower Center has just launched a campaign to demand the Department of Transportation protect whistleblowers effectively. Under part V of the Fixing America’s Surface Transportation Act (FAST Act) the Transportation Department now has the responsibility to protect whistleblowers who report violations of motor vehicle safety laws. The NWC’s Action Alert is linked here. This legislation has the potential… Continue Reading

NWC Urges Immediate Appeal of the Eleventh Circuit’s Imposition of a Statute of Limitations on FCPA Disgorgement Enforcement Actions

Posted in Corporate Whistleblowers, News
SEC Says Employees Protected For Internal WhistleblowingOn May 26, 2016, the Eleventh Circuit Court of Appeals issued a body blow to the SEC’s ability to go after corporations under the Foreign Corrupt Practices Act (FCPA) by imposing a five-year statute of limitations on disgorgement enforcement actions. The decision in SEC. v. Graham et al.  placed a five-year statute of limitations on all SEC disgorgement and declaratory relief enforcement… Continue Reading

March-May 2016 SEC Whistleblower Awards List

Posted in Claim SEC Award, Corporate Whistleblowers
SEC Whistleblower Program SuccessThe SEC Office of the Whistleblower posts Notices of Covered Action where a final judgment or order, by itself or together with other prior judgments or orders in the same action issued after July 21, 2010, results in monetary sanctions exceeding $1 million. Subject to the Final Rules, individuals who voluntarily provided the Commission with original information after July 21, 2010 that led… Continue Reading

The Securities and Exchange Commission Confirms Critical Role Whistleblowers Play in Holding Fraudsters Accountable

Posted in Corporate Whistleblowers, News
SEC Says Employees Protected For Internal WhistleblowingThe head of the SEC’s Office of the Whistleblower, Sean McKessy, reported on Friday that the increased number of rewards paid out to whistleblowers “reflects the high-quality nature of the tips the SEC is receiving as public awareness of the whistleblower program grows.”  To date, the SEC has awarded 31 separate awards totaling $68 million to whistleblowers.… Continue Reading

Big Win for Whistleblowers in U.S. Court Of Appeals for The Fourth Circuit

Posted in Corporate Whistleblowers, News
Big Win for Whistleblowers in Fourth Circuit  Washington, D. C. May 24, 2016. The U.S. Court of Appeals for the 4th Circuit ruled in favor of a corporate whistleblower in a May 20, 2016 decision. The case, filed under the Sarbanes-Oxley Act by Mrs. Dinah R. Gunther, alleged that the Virginia-based software provider, Deltek, Inc. fired her after she raised accounting concerns to the company’s General… Continue Reading

Obama Strengthens Key Corporate Whistleblower Protections

Posted in Corporate Whistleblowers
locked folder“Defend Trade Secrets Act” Signed into Law Washington, D.C. May 11, 2016. Today, President Obama signed into law the Defend Trade Secrets Act, which includes major whistleblower reforms. The Act contains strong and much needed protections for corporate whistleblowers, establishing immunity for employees who disclose trade secrets to the government as part of a whistleblower case. The Act sets forth… Continue Reading

Obama Administration Proposes Oversight Reform in Response to Panama Papers

Posted in Corporate Whistleblowers, International, News, Tax Whistleblowers
Official White House Photo by Pete SouzaIn response to the Panama Papers — the more than ten million leaked documents from the Panamanian law firm, Mossack Fonseca, that exposed illicit financial activity and tax evasion through the use of anonymous offshore shell companies — the White House announced on May 6th that it would end the use of anonymous corporations in the United States and require… Continue Reading

National Whistleblower Center presents original documents showing the intent of the False Claims Act

Posted in Corporate Whistleblowers, False Claims / Qui Tam
Civil War Contractor CartoonThe National Whistleblower Center recently filed an Amicus (friend of the court) brief in the case Universal Health Services v. U.S. ex rel. Escobar. The legal issue behind the case concerns the False Claims Act, America’s premier whistleblower law and its best defense against government contracting fraud. The question at hand asks whether a contractor can only be held liable… Continue Reading