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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 29 of 35

Great 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...

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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.  SEC

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August 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.  SEC

Tagged in: Financial and Investment Fraud, SEC Whistleblower Reward Program,

Protecting 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.

Tagged in: Anonymity, SEC Whistleblower Reward Program,

In Their Own Words -- Ceresney

Posted  08/31/16

-- “The SEC whistleblower program has had a transformative impact on the agency, enabling us to bring high quality enforcement cases quicker using fewer resources.”

Andrew Ceresney, Director of the SEC Division of Enforcement, commenting on the agency’s awarding over $100 million to whistleblowers.

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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...

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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

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