UK Parliament Introduces Bill to Establish Office of the Whistleblower
A bill introduced in the UK Parliament seeks to establish an independent Office of the Whistleblower, which would build upon the current statutory framework and improve whistleblower protections and support.
The Office of the Whistleblower Bill, introduced on January 28th by Baroness Susan Kramer, incorporates the recommendations and guidance offered in the 2019 report by the All Party Parliamentary Group on...
Three recent international developments have occurred that will further enable and encourage whistleblowers to report alleged wrongdoing, and provide guidance for employers and organizations to respond to such complaints.
The European Union formally adopted a whistleblower protection directive on September 25, 2019, requiring organizations with 50 or more workers to establish internal reporting channels over the...
The tragic murder of investigative journalist Daphne Caruana Galizia in 2017 sparked international outrage—and the fear that nothing would be done to discover who was behind her death. This turns out not to be the case. After years of persistence from her family and journalist community, Yorgen Fenech, a gambling, real estate, and energy mogul, was arrested on November 20 for complicity in her murder. He has...
CFTC Whistleblower Program Annual Report Shows Program Open for Business, yet Challenges Persist
Fifteen million dollars is how much the United States Commodity Futures Trading Commission’s (CFTC) Whistleblower Program paid whistleblowers in FY 2019 according to the agency’s annual report to Congress. This amount includes:
$7 million to one individual whistleblower;
Over $2 million to a non-insider whistleblower who provided independent analysis of market data; and,
Constantine Cannon partner Mary Inman, and Vigjilenca Abazi of Maastricht University, discuss the new European Union Whistleblower Directive with Adam Turteltaub in SCCE’s Compliance Perspectives podcast. Mary Inman explains the differences between U.S. whistleblower programs and the EU directive, as well as the opportunities presented to compliance personnel in light of new research on internal whistleblowing. ...
Brokerage firm Lek Securities Corp. and its CEO Sam Lek will pay almost $2 million to resolve allegations that they facilitated the manipulative trading scheme of Ukraine-based customer Avalon FA, Ltd. Lek provided Avalon with the means to engage in "layering" and other cross-market manipulation. Layering involves placing and canceling orders to signal inaccurate prices. Avalon also engaged in other practices to buy and sell stocks to artificially impact options prices. Lek Securities will pay a $1 million penalty plus $526,000 in disgorgement and interest; Sam Lek will pay a $420,000 penalty. Defendants have admitted the facts alleged and Lek Securities has agreed to retain an independent compliance monitor. SEC
How to Report Visa Fraud for a Whistleblower Reward
A settlement with India-based management consulting firm Mu Sigma shows how whistleblowers can make a difference in visa enforcement. In September, 2019, Mu Sigma agreed to pay the U.S. $2.5 million to settle claims that it evaded H-1B visa requirements and brought employees to the U.S. on B1 visitor visas, misrepresenting the nature of their intended employment. In announcing the settlement, Immigration and Customs...
The SEC announced that a whistleblower has been awarded $1.8 million for reporting misconduct committed abroad. According to the SEC, the whistleblower’s tip and extensive cooperation—including providing ongoing information, document review, and sworn testimony—were critically important to bringing about a significant enforcement action. SEC
Facebook, Google, Samsung, Microsoft – we rely on large tech companies to safeguard our privacy and time and again they let us down. Yet tech companies are known to be highly selective employers, hiring the best and brightest and often paying better than companies in other industries. So how is it that they remain vulnerable to data breaches with such talent at their disposal?
Cisco whistleblower James Glenn has...