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SEC Whistleblower Reward Program

This archive displays posts tagged as relevant to the SEC Whistleblower Reward Program. You may also be interested in the following pages:

Page 1 of 18

SEC Whistleblower Awards Keep Rolling In

Posted  09/17/20
a silver whistle on top of a stack of cash
Earlier this week, the SEC announced an award of more than $10 million "to a whistleblower whose information and assistance were of crucial importance to a successful SEC enforcement action."  This brings the total tally under the SEC's Whistleblower Program to $520 million in awards to 94 whistleblowers since the first award in 2012. It also marks the latest in a flood of awards this year, including the $50...

How Whistleblowers Can Report Fraud Related to Clinical Trials

Posted  09/4/20
Microscope
The COVID-19 pandemic has highlighted the importance of government-funded scientific and medical research, including clinical trials of vaccines, treatments, and more.  We are all potentially at risk if there is fraud and abuse in clinical trials and other research. Individuals with knowledge of fraud and misconduct in federal grants and clinical trials may be able to bring a whistleblower action for that research...

September 1, 2020

The SEC made a $2.5 million whistleblower award to two outsiders who submitted a whistleblower tip based on their detailed independent analysis of a company's public filings.  The whistleblowers provided helpful assistance during the investigation, and their submission ultimately led to several successful enforcement actions.  The SEC did not disclose their identity or the target of the underlying enforcement actions.  SEC

Catch of the Week: Interactive Brokers Pays $38 Million for Failures in Money-Laundering and Supervision

Posted  08/14/20
Computer screen with graphs
Brokerage firm Interactive Brokers LLC will pay $38 million in penalties to settle charges from multiple U.S. market regulators regarding its anti-money laundering practices, including alleged failures to file suspicious activity reports (SARs).  The discount broker has paid an $11.5 million penalty to settle charges with the Securities and Exchange Commission over the deficiencies in its internal controls that...

The FCPA’s Accounting Provisions Get a Fresh Look from the SEC

silver whistle with Securities Exchange Commission logo
In the New York Law Journal this week, we published an article discussing a heartening trend in the SEC’s enforcement of the Foreign Corrupt Practices Act, a law that has yielded some of the largest SEC fines and recoveries: an increased willingness to ground enforcement actions in the accounting provisions of the FCPA. The FCPA broadly prohibits two different kinds of conduct.  First, businesses may not bribe...

What Potential Whistleblowers Need to Know About the Dodd-Frank Act

Posted  07/21/20
This week marks the tenth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. What is the Dodd-Frank Act? Passed following the 2008 financial crisis, the Dodd-Frank Act aims to prevent fraud and abuse in the financial markets. For whistleblowers, the Dodd-Frank Act is especially significant, as it also created the SEC Whistleblower Program and CFTC Whistleblower Program. The Dodd-Frank...

Constantine Cannon Attorneys Provide Comments on Model Whistleblower Award and Protection Act

silver whistle with Securities Exchange Commission logo
Following in the footsteps of the hugely successful SEC Whistleblower Program, which recently announced its largest-ever reward of $50 million, the North American Securities Administrators Association (NASAA) has proposed a Model Whistleblower Award and Protection Act that would serve as a guide for states across North America who wish to enact a compelling whistleblower program to bolster their securities...
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