On January 17, 2017, the SEC issued its latest sanction, a $340,000 penalty against BlackRock Inc., (NYSE: BLK — the world’s largest investment management firm) for interfering with the right of its employees to obtain whistleblower rewards under the SEC’s Dodd-Frank Act whistleblower reward program. SEC Rule 21F-17 was adopted in response to the whistleblower reward provisions found in the Dodd-Frank Act. Rule 21F-17 forbids a covered employer from taking “any action to impede an individual from communicating directly with the Commission staff about a possible securities law violation.” Continue Reading SEC Protects Access to Whistleblower Rewards

On December 29, 2016, the Justice Department announced that it had reached the final resolutions under the Swiss Bank Program. The Swiss Bank Program was put in place after a massive tax evasion scheme at Swiss bank UBS was exposed by Bradley Birkenfeld. The former international banker and wealth manager with UBS recently released Lucifer’s Banker: The Untold Story of How I Destroyed Swiss Bank Secrecy detailing his journey as he took on the Swiss banking industry. Continue Reading Swiss Bank Program Sees Final Resolutions

On December 29, 2016, the Justice Department announced that it had reached the final resolutions under the Swiss Bank Program. The Swiss Bank Program was put in place after a massive tax evasion scheme at Swiss bank UBS was exposed by Bradley Birkenfeld. The former international banker and wealth manager with UBS recently released Lucifer’s Banker: The Untold Story of How I Destroyed Swiss Bank Secrecy detailing his journey as he took on the Swiss banking industry. Continue Reading Swiss Bank Program Sees Final Resolutions