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Madoff trustee will reportedly receive between 35%-50% of massive billings he generates for law firm.
Will new whistleblower rules harm companies?
Get caught up with the Securities Docket News Wire for May 26, 2011.
On Wednesday, John Dowd, Rajaratnam’s lawyer, renewed his request originally made after prosecutors rested their case to acquit him of all charges. Dowd also asked the judge to dismiss one conspiracy count and four securities-fraud counts…. Such post-trial motions–known as Rule 29 motions–are rarely successful, but are one of the steps available for defense attorneys […]
The new rules provide for payment of 10 percent to 30 percent of the collected amount when the sanctions imposed by regulators exceed $1 million. In determining the size of the reward, the agency can take into account the value of the tips offered and a whistle-blower’s cooperation with the company’s internal notice program. The […]
The Second City brings comedy to the world of compliance.
The rules, adopted on a 3-2 vote, don’t mandate internal company reporting by whistle-blowers despite a lobbying blitz by dozens of large U.S. companies, including Verizon Communications Inc. and Goodyear Tire and Rubber Co. Read more: US SEC Issues Final Whistle-Blower Rules — Dow Jones Newswires
Get caught up with the Securities Docket News Wire for May 25, 2011.
SEC must use its recruiting budget by end of 2011 fiscal year.