The SEC last week brought its first enforcement action based solely on retaliation against a whistleblower. Casino-gaming company International Gaming Technology (IGT) agreed to pay a $500,000 penalty to settle the SEC’s enforcement action.… Continue Reading
Posts Tagged: Dodd-Frank Act
Do motives matter for assessing the legitimacy of whistleblower allegations? This issue is currently subject to debate in Canada as the Ontario Securities Commission (OSC) and Canada Revenue Agency (CRA) are respectively considering and testing reward-based schemes for whistleblowers.… Continue Reading
The FCPA Blog’s recent postings on the rise in compliance education are encouraging. At Fordham Law School, we’re finding increasing demand from the business community in New York and throughout the country for compliance professionals and believe that it is one of the most important growth areas for legal education.… Continue Reading
The Securities and Exchange Commission said Friday a whistleblower award of more than $300,000 went to a company audit and compliance employee who complained to the SEC after the company didn’t act on the same information.… Continue Reading
A Chicago man was indicted Wednesday for defrauding 290 Chinese investors in an alleged visa scheme that ran for two years until it was stopped by a whistleblower complaint to the SEC.… Continue Reading
The United States Court of Appeals for the Second Circuit on Thursday affirmed the dismissal of lawsuit filed by a former Siemens compliance officer in China who said the company retaliated against him after he internally reported alleged corrupt sales practices.… Continue Reading
A federal district court ruled in May that whistleblowers don’t have to report to the SEC to receive protection against retaliation by their employers.
SEC Commissioner Daniel M. Gallagher talked Monday about the expanded role of compliance professionals in the securities industry.
Instead of focusing on the “scoundrels in the industry,” he talked about the “folks from the other end of the spectrum.”… Continue Reading
The first conflict minerals report was submitted to the Securities and Exchange Commission Thursday by Taiwan-based Siliconware Precision Industries Co., Ltd.
The deadline for filing Form SD with the SEC is May 31, when companies must make their conflict-minerals disclosures required by the Dodd-Frank Act.… Continue Reading
The European Commission issued a draft regulation on conflict minerals Wednesday, outlining a voluntary self-reporting system that’s not limited to central Africa.
The draft regulation (available here in pdf) focuses on the “upstream” portion of a company’s supply chain — that closest to the source of the minerals — and only targets companies that import conflict minerals into the EU.… Continue Reading