Whistleblower Protection Blog

Whistleblower Protection Blog

Advocating Whistleblower Rights for over Twenty Years

Tag Archives: Securities and Exchange Commission

National Whistleblower Center Testifies Before House Committee in Defense of the SEC Whistleblower Program

Posted in Corporate Whistleblowers
CymyNatWEAEJDZ2Today, National Whistleblower Center Executive Director Stephen Kohn submitted testimony to the House Financial Services Committee in defense of the Securities and Exchange Commission’s (SEC) whistleblower program—a highly successful program that has protected investors and recovered $1 billion from Wall Street fraudsters since its inception. Section 823 of the draft Financial Choice Act of 2017 directly, and negatively, impacts the… 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

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

SEC Awards Company Outsider $700,000

Posted in Claim SEC Award, News
SEC Says Employees Protected For Internal WhistleblowingWashington, D.C. January 15, 2016. The Securities and Exchange Commission issued a landmark award to an industry expert who provided it with “high-quality analysis” in an enforcement action.  The whistleblower award of more than $700,000 marks the first time the SEC has issued an award to someone outside a company since the whistleblower office opened in 2011.… Continue Reading

Top 10 Whistleblower Protection Blog’s Posts of 2015

Posted in News
Top ten Whistleblower Protection Blog posts of 2015The Whistleblower Protection Blog’s most popular posts during the past year covered a wide range of whistleblower topics including court victories improving whistleblower rights, the introduction of new whistleblower legislation,  and the Congressional celebration honoring whistleblowers. We really appreciate the support from our loyal readers. You have given us another successful year. If you’d like to be the first to know… Continue Reading

Court Ruling Threatens Internal Compliance Programs

Posted in News
SEC Says Employees Protected For Internal WhistleblowingWashington, D.C. December 22, 2015. On December 8, 2015, the Eastern District of Tennessee dismissed a whistleblower’s claims, finding that the Plaintiff was not entitled to protection under the whistleblower provisions of the Dodd-Frank Act. Verble v. Morgan Stanley Smith Barney LLC et al., 3:15-cv-00074 (E.D. Tenn. Dec. 8, 2015).  The court’s decision further divides the split amongst circuits regarding… Continue Reading

SEC Says Employees Protected For Internal Whistleblowing

Posted in Corporate Whistleblowers
SEC Says Employees Protected For Internal WhistleblowingOn August 4, 2015, the Securities and Exchange Commission (“SEC”) issued an interpretive rule to dispel confusion over whether employees who only report violations to their employer are protected by the Dodd-Frank whistleblower protection provision. The SEC will formally publish this interpretative rule in the Federal Register and it will operate as an amendment to the Dodd-Frank whistleblower rules. A… Continue Reading

Third Largest SEC Whistleblower Award Issued

Posted in Claim SEC Award, Corporate Whistleblowers
SEC third largest whistleblower awardWashington D.C., July 17, 2015: Today the Securities and Exchange Commission (SEC) announced that it paid a whistleblower award of more than $3 million. The company insider whose information helped the SEC crack a complex fraud, received the third highest award to date under the SEC’s whistleblower program. Stephen M. Kohn, Executive Director of the National Whistleblower Center praised the award… Continue Reading

Deadline for FOIA Appeals at SEC Extended to 90 days

Posted in News
SEC Extends Deadline for FOIA Appeals to 90 DaysOn July 8, 2015, the Securities and Exchange Commission (SEC) issued a final rule regarding its Freedom of Information Act (FOIA) regulations. The SEC was considering imposing a 30-day time limit in which to file an appeal under FOIA. Instead, the SEC extended the time frame to 90 days. National Whistleblower Center General Counsel David K. Colapinto submitted comments to the… Continue Reading

April 2015 Whistleblower Awards List

Posted in Claim SEC Award
The SEC Office of the Whistleblower post 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

Whistleblower Received $600,000 from SEC

Posted in Corporate Whistleblowers
whistleblower retaliationOn April 28, 2015, the Securities and Exchange Commission announced an award to a whistleblower of $600,000. The whistleblower was given the award for providing key original information that led to a successful enforcement action in connection with In the Matter of Paradigm Capital Management, Inc. and Candace King Weir, File No. 3-15930 (June 16, 2014). The whistleblower in this… Continue Reading

SEC Chair Praises Agency’s Whistleblower Program

Posted in Corporate Whistleblowers
SEC Chair Mary Jo WhiteChicago, IL.  April 30, 2015.  Today SEC Chair Mary Jo White gave a major public presentation endorsing the SEC whistleblower program and explaining how whistleblowers now play a central role in protecting U.S. financial markets. Stephen M. Kohn, executive director of the National Whistleblower Center, made the following statement in regard to Ms. White’s remarks: “Chair White’s endorsement of the… Continue Reading

March 2015 SEC Whistleblower Awards List

Posted in Claim SEC Award
whistleblower retaliationThe SEC Office of the Whistleblower post 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 to… Continue Reading

SEC Sanctions KBR for Illegal Non-Disclosure Agreement

Posted in Corporate Whistleblowers, False Claims / Qui Tam
KBRSEC Investigation into overly restrictive non-disclosure agreements was triggered by complaint filed by former KBR Contractor Harry Barko Washington, D.C. , 2015.  April 1, 2015.  Today the U.S. Securities and Exchange Commission sanctioned defense contractor KBR for requiring its employees to sign restrictive non-disclosure agreements that prohibited employees from properly reporting fraud and misconduct to appropriate regulatory authorities.  A copy… Continue Reading

February 2015 SEC Whistleblower Awards List

Posted in Claim SEC Award, Corporate Whistleblowers
The SEC Office of the Whistleblower post 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 to… Continue Reading

January 2015 SEC Whistleblower Awards List

Posted in Claim SEC Award
The SEC Office of the Whistleblower post 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 to… Continue Reading

December 2014 SEC Whistleblower Award List

Posted in Claim SEC Award
The SEC Office of the Whistleblower post 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 to… Continue Reading

Foreign Nationals File Whistleblower Rewards Claims in United States

Posted in Claim SEC Award, Corporate Whistleblowers, International
Major Breakthrough in Worldwide Protection for Whistleblowers Washington, D.C. December 9, 2014.  Today, as part of the U.N. sponsored International Anti-Corruption Day, the National Whistleblower Center issued a report, The Importance of Whistleblower Rewards in Combating International Corruption, endorsing whistleblower reward laws.  The Center is calling on government’s around the world to enact whistleblower laws and to model these laws on… Continue Reading

November 2014 SEC Whistleblower Award List

Posted in Claim SEC Award, News
The SEC Office of the Whistleblower post 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 to… Continue Reading

SEC Whistleblower program has historic year

Posted in Corporate Whistleblowers
On November 17, 2014, the U.S. Securities and Exchange Commission’s Office of the Whistleblower released its 2014 Annual Report to Congress. According to the report, 2014 was a historic year for the SEC Whistleblower program in terms of both the number and dollar amount of whistleblower awards. The SEC issued whistleblower awards to more individuals in 2014 than in all… Continue Reading

September/October SEC Whistleblower Award List

Posted in News
The SEC Office of the Whistleblower post 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 to… Continue Reading

Recent SEC Whistleblower Awards

Posted in Corporate Whistleblowers
Compliance Professional Awarded $300,000 by SEC Whistleblower Came to SEC After Reporting Fraud Internally and Company Failed to Take Action On August 29, 2014, The Securities and Exchange Commission announced a whistleblower award of more than $300,000 to a company employee who performed audit and compliance functions and reported wrongdoing to the SEC after the company failed to take action… Continue Reading