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DOJ Catch Of The Week -- Deutsche Bank

Posted  04/24/15
This week's Department of Justice "catch of the week" goes to Deutsche Bank AG.  Yesterday, the German-based bank and its UK-based subsidiary DB Group Services (UK) Limited agreed to pay more than $2.5 billion to settle US and UK charges relating to their role in manipulating the London Interbank Offered Rate (LIBOR).  LIBOR is a leading benchmark interest rate used in financial products and transactions around the...

SEC Awards Compliance Officer Whistleblower Over A Million Dollars

Posted  04/23/15
By the C|C Whistleblower Lawyer Team The SEC announced an award of more than a million dollars to a compliance officer who had a reasonable basis to believe that disclosure to the SEC was necessary to prevent imminent misconduct from causing substantial financial harm to the company or investors. This is the second award the SEC has made to an employee with internal audit or compliance responsibilities, after the...

SEC Enforcement Spotlight — BlackRock Advisors

Posted  04/21/15
By the C|C Whistleblower Lawyer Team BlackRock Advisors LLC agreed to pay a $12 million penalty to settle SEC charges it breached its fiduciary duty by failing to disclose a conflict of interest created by the outside business activity of a top-performing portfolio manager.  The firm also must engage an independent compliance consultant to conduct an internal review.  See SEC Press Release According to the...

SEC Enforcement Spotlight -- FLIR Systems

Posted  04/9/15
By the C|C Whistleblower Lawyer Team Oregon-based defense contractor FLIR Systems Inc. agreed to pay more than $9.5 million to settle charges by the Securities and Exchange Commission (SEC) that the company violated the Foreign Corrupt Practices Act (FCPA) by financing a “world tour” of personal travel and gifts for Middle East government officials.  FLIR, which develops infrared technology for use in...

New Report Highlights Effectiveness of Private Sector Whistleblower Programs

Posted  03/12/15
By Marlene Koury A recent report shows internal whistleblower reporting programs are getting stronger and more effective.  As companies continue to invest in the development of these programs, whistleblowers are encouraged to report fraud and misconduct, providing higher quality tips than ever before.  But as concerns are being shared in record numbers, the report also notes organizations are often too slow to...

New York AG Proposes Financial Frauds Whistleblower Act

Posted  02/26/15
By the C|C Whistleblower Lawyer Team New York Attorney General Eric T. Schneiderman announced today proposed legislation to protect and reward whistleblowers who report on fraud or misconduct in the banking, insurance, and financial services industries.  Titled the Financial Frauds Whistleblower Act, the law would be modeled after the Dodd-Frank Whistleblower Program and provide whistleblower rewards of 10-30...

AfriLeaks -- A New, Secure Website for Whistleblowers in Africa

Posted  01/15/15
By Marlene Koury AfriLeaks is a new whistleblower website aimed at safely connecting whistleblowers with investigative journalists to expose corruption and human rights abuses in Africa.   It was developed in partnership with Italy’s Hermes Center for Transparency and Digital Human Rights and the Africa Network of Centers for Investigative Journalism and is run by an alliance of African news organizations –...

Top-10 FCPA (Foreign Corrupt Practices Act) Settlements for 2014

Posted  01/5/15
By the C|C Whistleblower Lawyer Team Here is our look-back at the top-10 FCPA (Foreign Corrupt Practices Act) settlements for 2014. 10.  Bruker Corp. -- The Massachusetts-based manufacturer of scientific instruments agreed to pay $2.4 million to settle charges of providing non-business related travel and improper payments to various Chinese government officials in an effort to win business there. Click here...

DOJ Catch of the Week -- Alstom S.A.

Posted  12/24/14
[caption id="" align="alignright" width="218"] Photo Credit: Alstom[/caption] By the C|C Whistleblower Lawyer Team This week's Department of Justice "catch of the week" goes to French power and transportation company Alstom S.A. On Monday, the company pleaded guilty to violating the Foreign Corrupt Practices Act (FCPA) and agreed to pay a whopping $772 million to resolve charges of a widespread international...

DOJ Catch of the Week -- Avon Products

Posted  12/19/14
[caption id="attachment_10540" align="alignright" width="300"] Photo Credit: Avon[/caption] By the C|C Whistleblower Lawyer Team This week's Department of Justice "catch of the week" goes to New York-based cosmetics company Avon Products. On Wednesday, its wholly owned subsidiary Avon Products (China) Co. Ltd. pleaded guilty to violating the Foreign Corrupt Practices Act (FCPA) by making and concealing illicit...
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