• Home
  • About
  • Webcasts
  • ‘Enforcement 40’ for 2020
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Securities-Docket-Leaderboard_9Sec
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2020 / February / 20 / Whistleblowers Finding System Stacked Against Them – Government Accountability Project

Whistleblowers Finding System Stacked Against Them – Government Accountability Project

By Securities Docket on February 20, 2020, 10:09 am

Hong, a former managing director for an RBS subsidiary, reported wrongdoing at RBS to the Securities and Exchange Commission (SEC) in 2014. He says he provided thousands of documents and internal RBS emails to investigators as part of his testimony.

Hong says the SEC handed his evidence off to other agencies—the DOJ and the Federal Housing Finance Agency (FHFA) among them—which each used it to launch successful investigations against RBS. But the SEC never launched its own investigation, nor did it participate in the DOJ or FHFA investigations.

That leaves Hong without a way to apply for a reward, since of the three agencies, only the SEC has a whistleblower reward program. He has filed a petition for review in the U.S. Court of Appeals for the Second Circuit against the DOJ and SEC seeking some compensation for his testimony.

via Compliance Week: Whistleblowers Finding System Stacked Against Them – Government Accountability Project.

Blog Widget by LinkWithin

Posted in SEC, Top | Tagged Whistleblowers

« Previous Next »

‘Enforcement 40’ for 2020

Securities-Docket_Medium-Rectangle_CaseStudyArrow

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2021 Securities Docket.

Powered by WordPress and Hybrid.