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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 26 of 32

SEC’s $22M Whistleblower Award Brings Total Awards to over $100M

Posted  08/31/16
By Rosie Dawn Griffin In a watershed moment for the SEC whistleblower program, a recently announced whistleblower reward of more than $22 million brings the SEC’s total awards to whistleblowers past the $100 million mark. The SEC has been tight-lipped about the whistleblower’s identity, as well as that of the wrongdoer, revealing only that the award goes to a corporate insider whose detailed tip and extensive...

Tagged in: SEC Whistleblower Reward Program, Whistleblower Rewards,

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August 30, 2016

The SEC announced an award of more than $22 million to a whistleblower whose detailed tip and extensive assistance helped the agency halt a well-hidden fraud where the whistleblower worked.  SEC

Tagged in: SEC Whistleblower Reward Program, Whistleblower Rewards,

August 16, 2016

California-based health insurance provider Health Net Inc. will pay a $340,000 penalty for illegally using severance agreements which required outgoing employees to waive their ability to obtain monetary awards from the SEC’s whistleblower program.  According to the SEC’s order, Health Net violated federal securities laws by requiring departing employees to waive their right to file applications for SEC whistleblower awards in exchange for severance payments and other post-employment benefits.  SEC

Tagged in: Employment Issues, SEC Whistleblower Reward Program,

August 10, 2016

Atlanta-based building products distributor BlueLinx Holdings Inc. will pay a $265,000 penalty to settle charges that it violated securities laws by requiring outgoing employees to sign severance agreements that waived their rights to monetary recovery should they file a charge or complaint with the SEC or other federal agencies.  According to the SEC’s order, BlueLinx added the monetary recovery prohibition to all of its severance agreements in mid-2013, nearly two years after the SEC’s adoption of Rule 21F-17, which prohibits any action to impede someone from communicating with the SEC about possible securities law violations.  SEC

Tagged in: Employment Issues, SEC Whistleblower Reward Program,

June 9, 2016

The SEC announced a whistleblower award of more than $17 million to “a former company employee whose detailed tip substantially advanced the agency’s investigation and ultimate enforcement action.”  The award is the second-largest issued by the SEC since the inception of its whistleblower program.  SEC

Tagged in: SEC Whistleblower Reward Program,

SEC Makes Its Second-Largest Whistleblower Award in the Program’s History

Posted  06/10/16
The SEC has topped a string of recent whistleblower awards with a $17 million award —its second-largest ever — to “a former company employee whose detailed tip substantially advanced the agency’s investigation and ultimate enforcement action.” This award is second-in-size only to a $30 million award made by the SEC in September 2014.  It displaces as the second-largest award, a $14 million award made...

Tagged in: SEC Whistleblower Reward Program,

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May 20, 2016

The SEC announced a whistleblower award of more than $450,000 to be split between two individuals for a tip that led the agency to open a corporate accounting investigation and for their assistance once the investigation was underway.  SEC

Tagged in: Accounting Fraud, SEC Whistleblower Reward Program,

May 17, 2016

The SEC announced a whistleblower award of more than $5 million to a former company insider whose detailed tip led the agency to uncover securities violations that would have been nearly impossible for it to detect but for the whistleblower’s information.  SEC

Tagged in: SEC Whistleblower Reward Program,

May 13, 2016

The SEC announced a whistleblower award of more than $3.5 million to a company employee whose tip bolstered an ongoing investigation of wrongdoing that strengthened the SEC’s case.  SEC

Tagged in: SEC Whistleblower Reward Program,

In Their Own Words -- McKessy

Posted  05/23/16

--  “The recent flurry of awards reflects the high-quality nature of the tips the SEC is receiving as public awareness of the whistleblower program grows.”

Chief of the SEC Whistleblower Office Sean X. McKessy commenting on over $10 million awarded by the SEC to whistleblowers in the past week. Click here for more.

Tagged in: In Their Own Words, SEC Whistleblower Reward Program,

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