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SEC Goes After JP Morgan for Violating Whistleblower Protection Rule

Posted  01/18/24
J.P. Morgan Logo on Building
Add JP Morgan Securities to the ever-expanding list of companies the Securities and Exchange Commission (SEC) has gone after for violating the agency's Whistleblower Protection Rule -- SEC Rule 21F-17(a).  This rule broadly prohibits companies from taking any action to impede or discourage whistleblowers from reporting suspected securities violations to the SEC.  Yesterday (January 16), the SEC announced the JP...

Tagged in: Securities Fraud, Whistleblower Protection Laws,

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SEC Charges yet Another Company for Violating Whistleblower Protection Rule

Posted  10/6/23
silver whistle with Securities Exchange Commission logo
On September 29, the Securities and Exchange Commission (SEC) announced that New York-based investment adviser D. E. Shaw & Co. agreed to pay $10 million to settle charges of violating the SEC's Whistleblower Protection Rule.  It is the third SEC settlement in September for violating the rule, which prohibits a company from taking any steps to interfere with a whistleblower's efforts or incentives to report potential...

Tagged in: Securities Fraud, Whistleblower Protection Laws,

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Constantine Cannon Celebrates National Whistleblower Day

Posted  07/30/21
female standing proud with her silhouette as a superhero
Today, along with U.S. Senator Chuck Grassley and other members of Congress, we celebrate National Whistleblower Day, marking the occasion, on July 30, 1778, when the Continental Congress unanimously enacted the first whistleblower protection law in the United States.  As whistleblower advocates, it is a day to reflect on the courage, sacrifice, and patriotism of whistleblowers both in the United States and around...

Tagged in: Importance of Whistleblowers, Whistleblower Protection Laws,

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Not Wanting to Be Left Behind, the UK Introduces Two Bills in Parliament Seeking to Improve UK’s Whistleblower Protections

Posted  07/2/21
Aerial view of UK Parliament
The European Union is on the cusp of taking a quantum leap in the protection of whistleblowers. Whereas previously only 8 of the 27 member states had national laws protecting whistleblowers, the new EU Whistleblowing Directive (Directive 2019/1937)  requires that all 27 member states transpose into national law sweeping whistleblower protections by the end of this year, creating a blanket of whistleblower protections...

Tagged in: Importance of Whistleblowers, International Whistleblowers, Whistleblower Eligibility, Whistleblower Protection Laws,

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SEC Cracks Down Again on Companies Chilling Whistleblowers from Reporting Wrongdoing

Posted  07/2/21
red tape over person mouth
A company’s restrictive compliance manual and training materials ran afoul of the Securities and Exchange Commission (SEC)’s Rule 21F-17(a), prohibiting actions restricting, impeding, or discouraging whistleblowers from directly reporting wrongdoing to the Commission.  In its settlement against New York broker-dealer Guggenheim Securities, LLC (Guggenheim), the SEC not only censured Guggenheim but also hit it...

Tagged in: SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Protection Laws, Whistleblower Rewards,

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A Better Approach for Encouraging Would-Be Whistleblowers to Stand Up and Be Heard

Posted  02/17/21
Book text showing definition of Whistleblower
There is a clear recognition these days that whistleblowers play a critical role in rooting out fraud and misconduct.  That is why Congress has passed an ever-increasing array of legislation aimed at protecting and rewarding whistleblowers. There is the False Claims Act, which rewards and protects whistleblowers who report fraud against the federal government.  A majority of states have passed analogous state...

Tagged in: FCA Federal, FCA State, Importance of Whistleblowers, Whistleblower Eligibility, Whistleblower Protection Laws, Whistleblower Rewards,

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Whistleblowing As a Civic Duty: Now Is the Time To Act

Posted  10/23/20
Whistleblower in Text
With voting in the 2020 election underway and the presidential debates behind us, now is a good time to reflect on the importance of civic duties to the preservation of American democracy.  Voting, paying taxes, serving on a jury, and registering with selective service are all examples of such duties—responsibilities which, if ignored or unfulfilled by enough individuals, will cause the institutional fabric holding...

Tagged in: Defense Contract Fraud, FCA Federal, Government Procurement Fraud, Importance of Whistleblowers, Whistleblower Eligibility, Whistleblower Protection Laws, Whistleblower Rewards,

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Colorado Law Offers Rewards for Whistleblowers Reporting Workplace Health and Safety Violations

Posted  08/14/20
As lock-downs and business shutdowns continue in the U.S., essential workers continue to report to work, providing healthcare, putting food on our tables, delivering goods and service, ensuring public safety, and more. These essential workers may face serious risks as they perform their jobs, often as a result of workplace health and safety violations by employers. Responding to the unique challenges of the...

Tagged in: COVID-19, FCA State, Importance of Whistleblowers, Legislation and Regulation News, Whistleblower Protection Laws,

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The FCPA’s Accounting Provisions Get a Fresh Look from the SEC

Posted  08/13/20
silver whistle with Securities Exchange Commission logo
In the New York Law Journal this week, we published an article discussing a heartening trend in the SEC’s enforcement of the Foreign Corrupt Practices Act, a law that has yielded some of the largest SEC fines and recoveries: an increased willingness to ground enforcement actions in the accounting provisions of the FCPA. The FCPA broadly prohibits two different kinds of conduct.  First, businesses may not bribe...

Tagged in: FCPA, Importance of Whistleblowers, SEC Whistleblower Reward Program, Whistleblower Eligibility, Whistleblower Protection Laws, Whistleblower Rewards,

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This Week in Whistleblower History: The First Whistleblower Protection Law

Posted  07/31/20
a gavel and book titled "WHISTLEBLOWER LAW"
This week marks the eighth year in a row that Congress has designated July 30th National Whistleblower Day, honoring the occasion, on July 30, 1778, when the Continental Congress unanimously enacted the first whistleblower protection law in the United States.  The celebration this year is particularly poignant in light of the recent mistreatment of government whistleblowers, notably Lt. Colonel Alexander...

Tagged in: Importance of Whistleblowers, Whistleblower Eligibility, Whistleblower Protection Laws,

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