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Join the Securities Litigation and Enforcement Group on LinkedInSEC Bars Two Individuals from Whistleblower Award Program
The Securities and Exchange Commission today announced that it has barred two individuals from the SEC’s whistleblower award program, each of whom filed hundreds of frivolous award applications. The bars were issued pursuant to the 2020 amendments to the Whistleblower Program Rules, which were designed to allow the whistleblower program to operate more effectively and […]
SEC Surpasses $1 Billion in Awards to Whistleblowers with Two Awards Totaling $114 Million
The Securities and Exchange Commission today announced awards of approximately $110 million and $4 million to two whistleblowers whose information and assistance led to successful SEC and related actions. With these awards, the SEC’s whistleblower program has now paid more than $1 billion in awards to 207 whistleblowers, including over $500 million in fiscal year […]
SEC Begins Reversal of Trump Era Changes to Whistleblower Program | BakerHostetler – JDSupra
The new Chairman of the Securities and Exchange Commission (“SEC”), Gary Gensler has wasted little time in revisiting some of the policies enacted under his predecessor. On August 2, 2021, Chairman Gensler issued a public statement calling on the staff of the SEC to propose potential changes to two whistleblower rules that the Commission had […]
Former Enron Executive: SEC Whistleblower Program Is a Game Changer – WSJ
Sherron Watkins, the Enron Corp. executive who warned management about fraud, said not having confidentiality and protection for whistleblowers can have a cost. Nearly 20 years after the energy company’s collapse, Ms. Watkins, 61 years old, said being labeled a whistleblower has been a challenge to her career ever since. If current whistleblower protections had […]
Former Chief of SEC’s Office of the Whistleblower Jane Norberg Joins Arnold & Porter’s Securities Enforcement and Litigation Practice in Washington, DC | Arnold & Porter
Arnold & Porter announced today that Jane Norberg has joined the firm’s Securities Enforcement and Litigation practice as a partner, resident in Washington, DC. She most recently served as Chief of the Office of the Whistleblower of the Securities and Exchange Commission (SEC), an office created by Congress in 2010 under the Dodd-Frank Wall Street Reform […]
SEC Awards More Than $28 Million to Whistleblower Who Aided SEC and Other Agency Actions
The Securities and Exchange Commission today announced an award to a whistleblower totaling more than $28 million in connection with an SEC enforcement action and a related action by another federal agency. The whistleblower’s information caused both the SEC and the other agency to open investigations that resulted in significant enforcement actions. Under the SEC’s […]
CFTC Whistleblower Program in Peril Over Potential $100 Million-Plus Payout – WSJ
The Commodity Futures Trading Commission’s whistleblower program is in turmoil over a potential payout exceeding $100 million to a former Deutsche Bank AG executive—one so large it would deplete the agency’s whistleblower funds and has led it to seek congressional action. Source: CFTC Whistleblower Program in Peril Over Potential $100 Million-Plus Payout – WSJ
SEC Whistleblower Program Shows Value of Speaking Up, Departing Chief Says – WSJ
Jane Norberg, who has served as chief of the whistleblower office since 2016, is leaving the agency after nine years. Her last day was Friday. “One thing I hope the program has accomplished is that whistleblowing is becoming more accepted as the fabric of normalcy,” Ms. Norberg said in an interview this week, noting that […]
SEC Awards Over $50 Million to Joint Whistleblowers
The Securities and Exchange Commission today announced an award of over $50 million to joint whistleblowers whose information alerted SEC staff to violations that involved highly complex transactions and would have been difficult to detect without their information. The joint whistleblowers provided exemplary assistance to the SEC staff during the investigation, including meeting with staff […]
Chief of SEC Whistleblower Office, Jane Norberg, Leaving Agency This Month – WSJ
The Securities and Exchange Commission’s whistleblower office is changing leadership amid a record-setting year for the regulator’s cash-for-tips program. Jane Norberg, chief of the SEC’s whistleblower office who helped lead the unit from its infancy, will leave the agency this month after nine years with the unit, the SEC said Thursday. Emily Pasquinelli, the whistleblower […]