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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:

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A Tale of Two Whistleblower Offices -- The Very Different Approaches of the SEC and IRS

Posted  10/26/12
By Gordon Schnell By now, we all have heard about the $104 million awarded to former UBS banker Bradley Birkenfeld for blowing the whistle on the Swiss banking giant's scheme to help thousands of Americans use offshore accounts to cheat the IRS.  See The IRS Whistleblower Office Gets Serious With Record Setting Award.  It was the largest whistleblower award on record and particularly notable as it came from an...

The SEC Whistleblower Office is Open for Business

Posted  08/28/12
By Gordon Schnell and Marlene Koury With the payment of its first whistleblower reward last week, the SEC has declared loud and clear that its recently created Whistleblower Office is officially open for business.  Click here for SEC press release.   While relatively modest in amount -- only $50,000 for now -- what is particularly notable about the award is that it represented 30 percent of the total amount the...

SEC Continues its Crusade Against Foreign Bribery

Posted  08/10/12
By Gordon Schnell The reinvigorated efforts of the Securities and Exchange Commission (SEC) to fight foreign bribery continue to pay off.  This week, the SEC announced that the drug giant, Pfizer, has agreed to pay $60 million to settle criminal and civil charges that its subsidiaries bribed foreign officials in Europe and Asia in order to win business there.  Under the Foreign Corrupt Practices Act (FCPA), it...

Business is Booming at the SEC Whistleblower Office as Tips Continue to Flood In

Posted  06/29/12
By Jason Enzler The SEC’s Whistleblower Office is busy these days as tips continue to stream into the agency.  Thomas Sporkin, the chief of the SEC’s Office of Market Intelligence, the unit that assesses the credibility of these tips, recently stated that the agency is receiving an average of seven tips per day, with about 2 or 3 of them meriting investigation.  Many of these tips are coming from senior...
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