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Legislation and Regulation News

This archive displays posts tagged as news about whistleblower legislation and regulations. You may also be interested in our pages:

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Congratulations to Puerto Rico for Adopting a False Claims Act

Posted  07/27/18
On July 23, 2018, Puerto Rico Governor Ricardo Rosselló, signed into law anti-fraud legislation that includes provisions modeled after the federal False Claims Act. The Puerto Rico law, called the Fraudulent Claims to Programs, Contracts, and Services of the Government of Puerto Rico Act, has features critical to effective false claims acts: The Puerto Rico law permits whistleblowers to file qui tam lawsuits on behalf of the government. The Puerto...

Deputy AG Rosenstein Channels Seuss to Shakespeare to Inspire Corporate Compliance

Posted  05/22/18
By the C|C Whistleblower Lawyer Team Deputy Attorney General Rod Rosenstein pulled from a large cast of historical heavyweights to motivate the compliance community at the 2018 Annual Conference for Compliance and Risk Professionals.  His bottom line message to the lawyers, compliance officers and other risk professionals in the crowd: if we all do our part, both our companies and our country will be the better for it. It must...

British Columbia: It’s Time for a Securities Whistleblower Program

Posted  12/28/17
By the C|C Whistleblower Lawyer Team The ever-increasing complexity of the securities markets is making fraud harder to detect and making whistleblowers more essential than ever before. With insider knowledge, whistleblowers can help enforcement officials detect fraud and apprehend fraudsters much quicker than otherwise. Whistleblowers who approach authorities take tremendous risk, including the risk of ruining their careers. Incentivizing whistleblowers to take these risks, as well as controlling the risks...

Senator Grassley Proposes Important Whistleblower Amendments to GOP Tax Bill

Posted  11/16/17
By the C|C Whistleblower Lawyer Team Charles Grassley, the seven-term Iowa Senator and long-time whistleblower advocate, has introduced two amendments to the Senate’s “Tax Cuts and Jobs Bill” that would assist whistleblowers. One would prevent the double-taxation of certain whistleblower awards, while another would permit whistleblowers who report criminal tax frauds to collect awards from criminal fines imposed on the offending party. The first amendment, titled “To unify the tax...

House of Representatives to Takes Up Whistleblower Protection Act This Week

Posted  10/9/17
By the C|C Whistleblower Lawyer Team This week the Dr. Chris Kirkpatrick Whistleblower Protection Act of 2017 moves to the House of Representatives after being passed by the Senate in May. The House Committee on Rules will meet on Tuesday October 10th to discuss the bill. The bill creates further protections for certain federal government whistleblowers. President Trump first took action in this area in with an Executive Order on...

May 22, 2017

The U.S. Commodity Futures Trading Commission (CFTC) unanimously approved amendments to the CFTC’s Whistleblower Rules that will, among other things, strengthen the CFTC’s anti-retaliation protections for whistleblowers and enhance the process for reviewing whistleblower claims. Based on a reinterpretation of the CFTC’s anti-retaliation authority under the Commodity Exchange Act (CEA), the CFTC or the whistleblower may now bring an action against an employer for retaliation against a whistleblower. The amendments also prohibit employers from taking steps to impede a would-be whistleblower from communicating directly with CFTC staff about a possible violation of the CEA by using a confidentiality, pre-dispute arbitration or similar agreement. “The Whistleblower Program is an integral part of the Division’s efforts to identify and prosecute unlawful conduct. The Commission’s approval of these rules today will further strengthen and enhance our efforts to protect customers and promote market integrity,” said James McDonald, the Director of the Division of Enforcement. Part 165 of CFTC’s Regulations provides the basic framework of the agency’s Whistleblower Program. In addition to strengthening anti-retaliation protections, the new amendments will add efficiency and transparency to the process of deciding whistleblower award claims and will, in many respects, harmonize the CFTC’s rules with those of the U.S. Securities and Exchange Commission’s whistleblower program. The amended rules establish a claims review process which will utilize a Claims Review Staff, in place of the Whistleblower Award Determination Panel, to consider and issue a Preliminary Determination as to whether an award claim should be granted or denied. A whistleblower will then have an opportunity to request to view the record and may contest the Preliminary Determination before the CFTC issues a Final Determination. The amendments also make changes to other key areas, such as whistleblower eligibility requirements, and make clear that, with limited exceptions, a whistleblower may receive an award in a Covered Action, a Related Action, or both. In addition, the amendments authorize the Whistleblower Office to handle facially ineligible award claims that do not relate to a Notice of Covered Action, a final judgment in a Related Action, or a previously filed Form TCR (Tip, Complaint or Referral). The amended rules will go into effect 60 days after publication in the Federal Register. CFTC

GOP moves to gut SEC anti-graft rule

Posted  01/26/17
By the C|C Whistleblower Lawyer Team Congressional Republicans are planning to repeal an SEC rule, established under the Dodd-Frank Act, which requires oil, gas, and mining companies to disclose all payments to foreign governments for things like licenses and permits. Experts say such payments are often used to conceal bribes. The rule is currently set to go into effect in 2018. The enactment of previous version of the rule was...

Whistleblowers in Antitrust Enforcement: Has the Time Come?

Posted  09/28/15
By Ari Yampolsky The promotion of whistleblowing has become an important element of regulatory enforcement in several contexts, most recently in securities-law enforcement.  But apart from the amnesty/leniency framework, antitrust authorities have been less enthusiastic about incorporating whistleblowers into their enforcement efforts.  On August 27, 2015, the ABA sponsored a panel discussion titled Whistleblowing in Antitrust: Prospects and Pitfalls, in which four panelists considered the role that whistleblowing should play...

Maryland Passes False Claims Act

Posted  04/9/15
By the C|C Whistleblower Lawyer Team Yesterday, by a vote of 88 to 51, the Maryland House of Delegates approved passage of the Maryland False Claims Act.  It was previously passed by the Maryland Senate by a vote of 46 to 1 and now goes to Governor Larry Hogan for his signature.  The law greatly expands Maryland’s existing False Claims law which was limited to cases of Medicaid and healthcare-related...
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