Compliance requires lots of mid-course corrections. Those corrections are based on constant feedback that’s honest and accurate. That’s why attempts to impede feedback and complaints are always bad for compliance. And yet, confidentiality agreements (in their many different forms) are everywhere.… Continue Reading
Posts Tagged: Dodd-Frank Act of 2010
The Securities and Exchange Commission voted Wednesday to propose another version of its rule to require resource extraction issuers to disclose payments to foreign governments for the commercial development of oil, natural gas, or minerals.… Continue Reading
The whistleblower provisions of Dodd-Frank have been beset with interpretive difficulties, in part because of uncertainty regarding Dodd-Frank’s relationship to the whistleblower protections of the earlier Sarbanes-Oxley Act.
These difficulties have raised questions about which categories of whistleblowers are entitled to protection and what protections they are entitled to receive. … Continue Reading
U.S. News and World Report said Monday that aspiring MBA students should consider a career as a compliance officer.
The recommendation was one of five career paths that “offer robust job growth, generous salaries and low unemployment rates, according to data from the Bureau of Labor Statistics.”… Continue Reading
The U.S. Senate voted Friday to repeal an SEC rule that would have required oil and gas and mining companies to disclose each year all of their payments to foreign governments for exploration and production rights, permits, taxes, and other things.… Continue Reading
Health Net Inc. paid a $340,000 penalty Tuesday to the SEC for illegally using severance agreements that required outgoing employees to waive their ability to obtain monetary awards from the SEC’s whistleblower program.… Continue Reading
The Securities and Exchange Commission adopted a final rule this month requiring swap dealers to appoint chief compliance officers to run the compliance program and report to the board or the CEO.… Continue Reading
The U.S. Commodity Futures Trading Commission (CFTC) launched a new whistleblower website at www.whistleblower.gov. The new site has information about the agency’s whistleblower program for potential violations of the Commodity Exchange Act.… Continue Reading
First-hand details of the global pay to play kickback scheme at Olympus were brought to the government’s attention by the company’s former corporate compliance officer.
John Slowik filed a federal lawsuit in New Jersey under the qui tam or whistleblower provisions of the False Claim Act and similar state laws.… Continue Reading
The U.S. Securities and Exchange Commission released an Order Determining Whistleblower Award Claim for more than $700,000 to one person, but denying an award to three other claimants for the same matter.… Continue Reading
Congress could not have been any clearer in its statutory design. Nor the SEC any more outspoken in its revitalized approach to government enforcement. Whistleblower rewards work. Even more, they are an indispensable component of the modern regulatory scheme.… Continue Reading
The SEC received 16 percent more tips from whistleblowers concerning suspected violations of the Foreign Corrupt Practices Act in fiscal year 2015 than it did the previous year, according to the annual report released by the SEC Office of the Whistleblower. … Continue Reading