Tag Archives: Dodd-Frank Act

SEC Announces Record Year Standing Up for Whistleblowers

SEC: Most Ever Whistleblower Money Distributed in a Single YearWashington, D.C.  October 12, 2016. The Securities and Commodities Exchange(SEC) announced yesterday that fiscal year 2016, which ended on September 30, 2016, was a record year for SEC enforcement. The agency reached new highs in enforcement in all areas, especially for whistleblowers.… 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 Adopts Rules for Resource Extraction Issuers Under Dodd-Frank Act

June 27, 2016. The Securities and Exchange Commission adopted rules to require resource extraction issuers to disclose payments made to governments for the commercial development of oil, natural gas or minerals.  The rules, mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, are intended to further the statutory objective to advance U.S. foreign … Continue Reading

Whistleblower to Receive $290,000 Award From CFTC

CFTC to Issue Whistleblower Award of Approximately $290,000The U.S. Commodity Futures Trading Commission announced yesterday that it will make an award of approximately $290,000 to a whistleblower for providing valuable information about violations of the Commodity Exchange Act (CEA). Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the CFTC’s Whistleblower Program provides monetary awards to persons who report … Continue Reading

SEC Says Employees Protected For Internal Whistleblowing

SEC Says Employees Protected For Internal WhistleblowingOn August 4, 2015, the Securities and Exchange Commission (“SEC”) issued an interpretive rule to dispel confusion over whether employees who only report violations to their employer are protected by the Dodd-Frank whistleblower protection provision. The SEC will formally publish this interpretative rule in the Federal Register and it will operate as an amendment to … Continue Reading

SEC Announces Its Third Largest Whistleblower Award

SEC Announces Third Largest Payout to WhistleblowerWashington D.C., July 17, 2015: Today the Securities and Exchange Commission (SEC) announced that it paid a whistleblower award of more than $3 million. The company insider whose information helped the SEC crack a complex fraud, received the third highest award to date under the SEC’s whistleblower program. Stephen M. Kohn, Partner in the whistleblower … Continue Reading

Canada’s Whistleblower Reward Program: Destined To Fail?

Canada has started to modernize its whistleblower laws by adopting a limited rewards program for whistleblowers that report specific tax law violations. Unfortunately, the program is weak, and most likely will fail.  The program lacks some of the most important features found in the U.S. whistleblower rewards programs, most importantly, the rewards are neither mandatory … Continue Reading

Did The “Conservative” U.S. Court Of Appeals For The Fifth Circuit Issue The Most Important Whistleblower Victory For 2014?

Every whistleblower, and every attorney who represents them, should be aware of the U.S. Court of Appeals for the Fifth Circuit’s November 12, 2014 ruling in Halliburton v. Administrative Review Board. Decided under the Sarbanes-Oxley Act’s anti-retaliation provision,  the case was simple.  Halliburton disclosed the name of one of its employees who had filed an SEC fraud … Continue Reading

SEC Files Amicus In Bid To Protect Employees Who Report Internally

On December 11, 2014, the U.S. Securities and Exchange Commission (SEC) filed an amicus brief with the Third Circuit Court of Appeals in support of a whistleblower in the case of Mikael Safarian v. American DG Energy Inc.  The SEC asked the Court to uphold the agency’s expansive view of who is protected from retaliation … Continue Reading

Fourth Anniversary of Dodd-Frank Finds Financial Reform Under Attack From Corporate America

Today, July 21, 2014, is the fourth anniversary of the passage of the Dodd-Frank Act — the most significant financial reform law enacted since the Great Depression to combat financial fraud.  However, the law is under attack from Wall Street and Corporate America, and its most important provisions are in danger. Dodd-Frank was passed in … Continue Reading