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Calling all FCPA Whistleblowers — The CFTC Wants You!

Posted 06/19/19

Businessmen Holding Foreign Currency in an Envelope

If you have information on Foreign Corrupt Practices Act (FCPA) violations in the commodities or derivatives markets, the Commodity Futures Trading Commission (CFTC) wants to hear from you. The agency made this clear in a recently-issued CFTC "Whistleblower Alert" calling on all FCPA whistleblowers to step forward and report what they know. The agency even dangled the potential for monetary rewards for those...

Tagged in: CFTC Whistleblower Reward Program, FCPA, Importance of Whistleblowers, SEC Whistleblower Reward Program, Whistleblower Case, Whistleblower Eligibility, Whistleblower Rewards,

Partner Eric Havian Leads Panel with Leaders of SEC, CFTC, IRS Whistleblower Programs

Posted 05/2/19

For the second year in a row, Constantine Cannon Partner Eric Havian led a panel at OffshoreAlert’s annual North American conference on Financial Intelligence and Investigations that included representatives from each of the major U.S. financial whistleblower programs. The panel, entitled “Enriching Domestic & Foreign Whistleblowers: The Growth & Spreading Reach Of U.S. Programs” included SEC Whistleblower...

Tagged in: CC Lawyers, International Whistleblowers,

New EU Rules Give Protection to Whistleblowers

Posted 04/26/19

European Union flags in front of EU Headquarters building

On April 16, 2019, a new directive was adopted by the European Parliament aimed at encouraging reports of wrongdoing and protecting whistleblowers from retaliation. The new rules guarantee greater levels of protection for whistleblowers who report breaches of EU law in several sectors, including financial services, money laundering, product safety, data protection, environmental protection and nuclear safety. EU...

Tagged in: International Whistleblowers, Legislation and Regulation News, Whistleblower Protection Laws,

Question of the Week — Will we see you at the OffshoreAlert Conference?

Posted 04/24/19

Publisher OffshoreAlert, which bills itself as “the unofficial financial regulator” and specializes in reporting about offshore financial centers with an emphasis on fraud investigations, is hosting its annual North American conference on Financial Intelligence & Investigations on April 28-30th in Miami, Florida. For a second year, Constantine Cannon Partner Eric Havian will lead a panel with representatives...

Tagged in: CC Lawyers, International Whistleblowers, Question of the Week,

Catch of the Week — Fresenius Medical Care

Posted 04/5/19

German-based medical device production and services company Fresenius Medical Care AG & Co. KGaA (“FMC”), agreed on March 29th to a $231 million settlement with both DOJ and the SEC to resolve allegations it violated the Foreign Corrupt Practices Act by paying bribes between 2007 and 2016 to publicly employed health and/or government officials to obtain or maintain business in Angola and Saudi Arabia....

Tagged in: Catch of the Week, FCPA,

Constantine Cannon Partner Mary Inman Weighs in on UK Financial Watchdog’s Whistleblower Team

Posted 04/4/19

Constantine Cannon attorney Mary Inman recently weighed in on the U.K. Financial Conduct Authority’s leanly staffed whistleblower office, which employs seven individuals and runs on less money than the Financial Conduct Authority (FCA) provides its chief executive in annual salary. In contrast, the U.S. Securities and Exchange Commission employs 21 people in its Office of the Whistleblower, which not only evaluates...

Tagged in: CC Lawyers, International Whistleblowers,

CFTC Pays Whistleblower Award for Related Action Brought by Another Federal Regulator

Posted 03/14/19

On March 4, 2019, the CFTC announced an award of $2 million to an anonymous whistleblower who was not an insider, but provided “critical information through independent analysis of market data” that lead to several million in recoveries by two regulatory agencies. Moreover, as the Order makes clear, the whistleblower’s $2 million award is based not just on the CFTC’s recovery, but also on a recovery in a...

Tagged in: CFTC Whistleblower Reward Program, Financial and Investment Fraud, International Whistleblowers, SEC Whistleblower Reward Program, Whistleblower Rewards,

Catch of the Week — Mobile TeleSystems settles FCPA claims for $850M

Posted 03/7/19

Pile of coins with miniature flag of Uzbekistan

Russian telecom giant Mobile TeleSystems PJSC (MTS) agreed to pay approximately $850 million to settle allegations the company violated the Foreign Corrupt Practices Act (“FCPA”) by bribing an Uzbek official, a relative of Uzbekistan’s president at the time. $100M will be paid to the SEC to resolve the charges and will be credited against a criminal fine and forfeiture of $850M based on related criminal...

Tagged in: Catch of the Week, FCPA, SEC Whistleblower Reward Program,

Canada Makes First Securities Fraud Whistleblower Award

Posted 03/6/19

Canadian maple leaf flag in cloth with draping

The Ontario Securities Commission (OSC) announced last week roughly CAD $7.5 million in whistleblower awards to three individuals who reported violations of Ontario securities laws. The awards are the first ever by a Canadian securities regulator. In keeping with its commitment to protecting the confidentiality of whistleblowers, the OSC did not disclose any information that might reveal the whistleblowers'...

Tagged in: International Whistleblowers, SEC Whistleblower Reward Program, Tax Fraud,

Catch of the Week — Cognizant Technology to Pay $25M to Settle Bribery Allegations While Top Execs Face Civil and Criminal Charges

Posted 02/22/19

Man in business suit signing on clipboard held by construction worker while surreptitiously exchanging cash

New-Jersey based tech company Cognizant Technology Solutions Corporation agreed to pay approximately $25 million-roughly $19 million in disgorgement and prejudgment interest and an additional $6 million in civil monetary penalties-to settle allegations the company violated the Foreign Corrupt Practices Act (“FCPA”) by bribing Indian officials. But the government’s enforcement doesn’t end there. Cognizant’s...

Tagged in: Catch of the Week, Criminal Proceedings, FCPA,

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Calling all FCPA Whistleblowers — The CFTC Wants You!

Partner Eric Havian Leads Panel with Leaders of SEC, CFTC, IRS Whistleblower Programs

New EU Rules Give Protection to Whistleblowers

Question of the Week — Will we see you at the OffshoreAlert Conference?

Catch of the Week — Fresenius Medical Care

Constantine Cannon Partner Mary Inman Weighs in on UK Financial Watchdog’s Whistleblower Team

CFTC Pays Whistleblower Award for Related Action Brought by Another Federal Regulator

Catch of the Week — Mobile TeleSystems settles FCPA claims for $850M

Canada Makes First Securities Fraud Whistleblower Award

Catch of the Week — Cognizant Technology to Pay $25M to Settle Bribery Allegations While Top Execs Face Civil and Criminal Charges

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