Archives: Securities and Commodities Fraud

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SEC Whistleblower Awards List – March 2017

Stop Fraud, whistleblower rewardsThe SEC Office of the Whistleblower posts Notices of Covered Action where a final judgment or order, by itself or together with other prior judgments or orders in the same action issued after July 21, 2010, results in monetary sanctions exceeding $1 million. Subject to the Final Rules, individuals who voluntarily provided the Commission with original information after … Continue Reading

SEC Whistleblower Awards List – February 2017

SECURITIES AND COMMODITIES FRAUD , SEC WHISTLEBLOWER AWARDS LISTThe SEC Office of the Whistleblower posts Notices of Covered Action where a final judgment or order, by itself or together with other prior judgments or orders in the same action issued after July 21, 2010, results in monetary sanctions exceeding $1 million. Subject to the Final Rules, individuals who voluntarily provided the Commission with original information after … Continue Reading

SEC Whistleblower Awards List – January 2017

Sec Protects Access to Whistleblower RewardsThe SEC Office of the Whistleblower posts Notices of Covered Action where a final judgment or order, by itself or together with other prior judgments or orders in the same action issued after July 21, 2010, results in monetary sanctions exceeding $1 million. Subject to the Final Rules, individuals who voluntarily provided the Commission with original information after … Continue Reading

SEC Whistleblower Award List December 2016

Sec Protects Access to Whistleblower RewardsThe SEC Office of the Whistleblower posts Notices of Covered Action where a final judgment or order, by itself or together with other prior judgments or orders in the same action issued after July 21, 2010, results in monetary sanctions exceeding $1 million. Subject to the Final Rules, individuals who voluntarily provided the Commission with original information after … Continue Reading

SEC Whistleblower Awards List November 2016

SEC Announces Third Largest Payout to WhistleblowerThe SEC Office of the Whistleblower posts Notices of Covered Action where a final judgment or order, by itself or together with other prior judgments or orders in the same action issued after July 21, 2010, results in monetary sanctions exceeding $1 million. Subject to the Final Rules, individuals who voluntarily provided the Commission with original information after … Continue Reading

Supreme Court Decision Expands Reach of Whistleblower Rewards for Insider Trading

Good news for insider trading whistleblowers.  The U.S. Supreme Court issued a unanimous ruling today in the case of Salman v. United States. The Court’s decision trashed a decision previously issued by the U.S. Second Circuit Court of Appeal in the case of United States v. Newman. In that case the court found that proof of an … Continue Reading

SEC: Incentives for Whistleblowers Best Way to Uncover Securities Law Violations

SEC Says Employees Protected For Internal WhistleblowingWashington, DC, November 16, 2016. The Securities and Exchange Commission (SEC) Whistleblower Program had its most successful year to date in 2016. The agency, which issued its annual report to Congress today, reports it issued awards totaling over $57 million in 2016—higher than all award amounts issued in previous years combined. The Office of the … Continue Reading

Whistleblower Awarded $20 Million for Assisting in Recovery of Investor Funds

Whistleblower Awarded $20 Million for Assisting in Recovery of Investors FundsThe Securities and Exchange Commission (SEC) handed out its third largest whistleblower award yesterday. The whistleblower was awarded $20 million for coming forward promptly with valuable information that enabled the SEC to move quickly and initiate an enforcement action against wrongdoers before they could squander the money.… Continue Reading

SEC Whistleblower Awards List September-October 2016

Sec Protects Access to Whistleblower RewardsThe SEC Office of the Whistleblower posts Notices of Covered Action where a final judgment or order, by itself or together with other prior judgments or orders in the same action issued after July 21, 2010, results in monetary sanctions exceeding $1 million. Subject to the Final Rules, individuals who voluntarily provided the Commission with original information after … Continue Reading

New Chief of SEC Whistleblower Office Named

Sec Protects Access to Whistleblower RewardsWashington, D.C. September 29, 2016.  The Securities and Exchange Commission (SEC) announced yesterday that Jane Norberg will now head its whistleblower office.  The SEC Office of the Whistleblower reviews whistleblower tips, evaluates whistleblower award claims, and makes recommendations on whether claimants should receive an award for their information. Ms. Norberg has served as acting chief … Continue Reading

SEC Fines Weatherford International $140 Million for Accounting Fraud

Oil Services Company Paying $140 Million Penalty for Accounting FraudWashington D.C., Sept. 27, 2016 —The Securities and Exchange Commission today announced that oil services company Weatherford International has agreed to pay a $140 million penalty to settle charges that it inflated earnings by using deceptive income tax accounting.  Two of the company’s senior accounting executives at the time have agreed to settle charges that … Continue Reading

SEC Enforcement Director Speaks on The Impact of the Whistleblower Program

SEC Enforcement Director Andrew CeresneyOn September 14, 2016, SEC Enforcement Director Andrew Ceresney spoke at the Sixteenth Annual Taxpayers Against Fraud Conference about the SEC’s whistleblower program. His remarks covered issues from the impact of the whistleblower program on the Agency to the role of whistleblower attorneys as they help their clients navigate the investigative and claims process.… Continue Reading

SEC Whistleblower Awards List July-August 2016

The SEC Office of the Whistleblower posts Notices of Covered Action where a final judgment or order, by itself or together with other prior judgments or orders in the same action issued after July 21, 2010, results in monetary sanctions exceeding $1 million. Subject to the Final Rules, individuals who voluntarily provided the Commission with original information after … Continue Reading

SEC Whistleblower Awards Top $100 Million

SEC Whistleblower Awards Top $100 MillionThe Securities and Exchange Commission (SEC) announced August 30, 2016 that it has awarded over $100 million to whistleblowers since its inception in 2011.  The SEC’s whistleblower program was established by Congress to incentivize whistleblowers with specific, timely and credible information about federal securities law violations to report to the SEC. … Continue Reading

CFTC Seeks Public Comment on Proposed Whistleblower Rule Amendments

CFTC to Issue Whistleblower Award of Approximately $290,000The U.S. Commodity Futures Trading Commission (CFTC) announced today that it is requesting public comment on proposed amendments to the Whistleblower Rules found in Part 165 of the CFTC’s Regulations. The CFTC announcement states: “The amendments would enhance the process for reviewing whistleblower claims and make related changes to clarify staff authority to administer the whistleblower … Continue Reading

Deutsche Bank Whistleblower Should Accept SEC Whistleblower Award

Deutsche Bank Whistleblower Should Accept SEC Whistleblower AwardThere are more effective ways to protest lax enforcement of financial fraud Last week, it was widely reported that Eric Ben-Artzi, a Deutsche Bank whistleblower stated he will refuse a portion of his whistleblower award from the U.S. Securities and Exchange Commission’s whistleblower program.   Mr. Ben-Artzi had worked at the bank as a vice president … Continue Reading

SEC Fines Company for Whistleblower Protection Violations

President Obama’s Whistleblower LegacyWashington D.C., Aug. 10, 2016 —The Securities and Exchange Commission today announced that an Atlanta-based building products distributor is settling charges that it violated securities laws by using severance agreements that required outgoing employees to waive their rights to monetary recovery should they file a charge or complaint with the SEC or other federal agencies.… Continue Reading
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