SEC Whistleblower Reward Program
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December 19, 2016
Virginia-based technology company NeuStar Inc. will pay $180,000 to settle charges involving its severance agreements that impeded at least one former employee from communicating with the SEC. The SEC’s order found that NeuStar violated a whistleblower protection rule by routinely entering into severance agreements that contained a broad non-disparagement clause forbidding former employees from engaging with the SEC. Former employees could be compelled to forfeit all but $100 of their severance pay for breaching the clause. The severance agreements were used with at least 246 departing employees between 2011 and 2015. NeuStar voluntarily revised its severance agreements promptly after the SEC began investigating and agreed to make reasonable efforts to inform those who signed the severance agreements that NeuStar does not prohibit former employees from communicating any concerns about potential violations of law or regulation to the SEC. SECDecember 9, 2016
The SEC announced the award of approximately $1 million to a whistleblower “whose tip enabled the SEC to bring multiple enforcement against wrongdoers.” SECDecember 5, 2016
The SEC announced the award of approximately $3.5 million to a whistleblower who came forward with information that led to a successful SEC enforcement action. The award brings the total awards under the program to approximately $135 million. SECNovember 14, 2016
The SEC announced the award of more than $20 million to a whistleblower who “promptly came forward with valuable information that enabled the SEC to move quickly and initiate an enforcement action against wrongdoers before they could squander the money.” The award is the third-highest since the SEC’s whistleblower program issued its first award in 2012. SECGreat Success (for now): The SEC Whistleblower Office’s 2016 Report Paints a Rosy Picture Despite Uncertainty on the Future of Dodd-Frank
Posted 11/17/16
By Ronny Valdes
On November 11, 2016, the SEC’s Office of the Whistleblower released its 2016 Annual Report to Congress. The report touts the great success the SEC’s Whistleblower Office has had since the whistleblower provisions went into effect with the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) in 2010. The SEC reports recovery of over $584 million in...
September 20, 2016
The SEC announced an award of more than $4 million to a whistleblower whose original information alerted the agency to a fraud. SECAugust 30, 2016
The SEC announced that awards to whistleblowers surpassed $100 million. The SEC’s press release stated that enforcement actions resulting from whistleblower tips have resulted in orders for more than $500 million in financial remedies. SECProtecting Whistleblower Anonymity
Posted 09/14/16
Introduction of Director of SEC Enforcement Andrew Ceresney; Panelist 2016 Taxpayers Against Fraud Education Fund, False Claims Act Annual Conference in Washington, DC.
In Their Own Words -- Ceresney
Posted 08/31/16