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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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Constantine Cannon Attorneys Eric Havian and Michael Ronickher Published on Need for Whistleblowers in Anti-Money Laundering Enforcement

Posted  04/26/19
currency hanging on laundry line with clothespins
With a whistleblower program for anti-money laundering enforcement currently under discussion in the House of Representatives Financial Services subcommittee, Constantine Cannon attorneys Eric Havian and Michael Ronickher were published in Banking Exchange on April 22 on the benefits such a program could bring. Highlighting the example of the recent Standard Chartered settlement, in which the London-based bank agreed...

Judiciary Committee Approves Amendments to California FCA

Posted  04/12/19
On Tuesday, the Judiciary Committee of the California State Assembly passed Assembly Bill 1270, which would make several important changes to the California False Claims Act, most notably eliminating the tax fraud loophole and clarifying materiality and damages standards. At the hearing, Martin Goyette, the head of the California Attorney General’s False Claims Unit, explained that the proposed changes would...

Constantine Cannon Attorneys Leah Judge and Chris McLamb Published in the Daily Journal on Proposed Amendments to the California FCA

Posted  04/12/19
man and woman attorney headshots
Constantine Cannon attorneys Leah Judge and Chris McLamb published an article in the Daily Journal highlighting proposed amendments to the California False Claims Act. Among other things, the bill would clarify the materiality requirement under the act and explicitly provide for consequential damages. The article explains how these changes will protect the government’s ability to punish and deter fraud and abuse in...

Constantine Cannon Attorneys Jessica Moore and Leah Judge Published in The Oklahoman on Helping to Curb Fraud in Oklahoma

Posted  02/28/19
Constantine Cannon attorneys Jessica T. Moore and Leah Judge published an op-ed piece in the Oklahoman advocating for the passage of House Bill No. 2386 (“the Oklahoma State Agency False Claims Act”). The proposed Oklahoma State Agency False Claims Act is modeled after similar state and local False Claims Act statutes that allow whistleblowers to bring lawsuits against companies and individuals who defraud the...

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:
  1. The Puerto Rico law permits whistleblowers to file qui tam lawsuits on...

Deputy AG Rosenstein Channels Seuss to Shakespeare to Inspire Corporate Compliance

Posted  05/22/18
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 have been a welcome...

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...

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...

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...

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


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