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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC Awards $20 Million to Whistleblower
The Securities and Exchange Commission today announced an award of $20 million to a whistleblower who provided new and critical information that led to the success of an enforcement action. In determining the appropriate award amount, the SEC considered that the whistleblower provided significant information and continuing assistance that helped Enforcement Division staff more quickly […]
Nov. 30 Webcast: Cyber Risk — Insider Threat and Whistleblower Risk Management
Please join Andrew Pak and Luke Tenery for this webcast.
Public Companies Should Bet on Whistleblowers to Lower Fines
The Securities and Exchange Commission’s whistleblower rewards program has prompted over 50,000 tip-offs in the last decade that have led to public companies paying almost $5 billion in fines and penalties. This is an embarrassing and costly state of affairs for some of the world’s most innovative companies, and something needs to change. If public […]
SEC Awards More Than $10 Million to Whistleblower
The Securities and Exchange Commission today announced an award of more than $10 million to a whistleblower who provided information and assistance that significantly contributed to a successful SEC enforcement action. The whistleblower provided important documents and met twice with Enforcement staff. The charges in the covered action had a close nexus with the whistleblower’s […]
Amid recession worries, SEC whistleblower program needed now more than ever | The Hill
In the 12 years since the SEC whistleblower program was established, its impact can be clearly seen in the numbers. The SEC Office of the Whistleblower has received nearly 60,000 tips, placed monetary sanctions exceeding $5 billion on fraudsters, paid whistleblowers over $1 billion for their courageous efforts, and helped return more than $1 billion […]
WNN Exclusive: FOIA Documents Discredit Articles Attacking SEC Whistleblower Program
In response to a Freedom of Information Act (FOIA) request filed by Whistleblower Network News and the National Whistleblower Center (NWC), the U.S. Securities and Exchange Commission (SEC) has released the 1034 pages of documents that served as the basis for recent articles attacking the SEC Whistleblower Program. In July and August, Bloomberg Law and […]
Carson Block Betrayed Partner to Steal SEC Award, Filing Says
The court fight over a $14 million SEC whistleblower award to short seller Carson Block escalated Monday, with his collaborator alleging Block deceived him while also acknowledging that neither man may have deserved the money. Kevin Barnes argued in a new federal filing that Block worked behind the scenes to convince Securities and Exchange Commission […]
The Search for Dirt on the Twitter Whistle-Blower | The New Yorker
As the inquiries proliferated, the group of ex-Stripe employees began to believe, Wasserman told me, “that multiple different sources, multiple different people, multiple different companies, were all basically trying to dig up dirt on Mudge, all seemingly at the same time.” The firms, Provos surmised, were “trying to get information that could further discredit Mudge,” […]
Madoff-Inspired Whistleblower Program Stiffs Big-Money Tipsters
The Texas comptroller’s office rewarded Danon for his work, and the Securities and Exchange Commission twice filed legal briefs on his behalf, arguing that whistleblowers must be protected. But when it came time to get paid, the SEC Office of the Whistleblower stopped returning his calls, according to a July federal court filing. Danon’s allegations […]
SEC Amends Whistleblower Rules to Incentivize Whistleblower Tips
The Securities and Exchange Commission today adopted two amendments to the rules governing its whistleblower program. The first rule change allows the Commission to pay whistleblowers for their information and assistance in connection with non-SEC actions in additional circumstances. The second rule affirms the Commission’s authority to consider the dollar amount of a potential award […]