News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
First came the stunning news from the SEC on May 5th: it awarded a record $279 million to a whistleblower, dwarfing the previous record of $114 million set in 2020. Then last week the Wall Street Journal reported that the award was related to Ericsson’s $1.1 billion FCPA settlement with the DOJ and SEC in 2019.… Continue Reading
When the SEC launched its whistleblower reward program in 2011, many predicted a flood of FCPA complaints. That didn’t happen. From FY2012 through FY2020, the SEC logged over 40,000 tips overall, but just 1,667 FCPA tips, or an average of 185 a year.… Continue Reading
This year the SEC has already awarded $114 million to whistleblowers, nearly twice the amount than for all of 2019. Three awards in 2020 are among the ten biggest SEC payouts ever, including last week’s $50 million award to a former BNY Mellon currency trader.… Continue Reading
Whistleblowing laws have been implemented by many jurisdictions to increase the quantity of reports on cases against corruption, fraud, misconduct and other illegal activities. Similar strategies are currently under debate in Brazil, a country that is trailing other OECD members in the protection of whistleblowers.… Continue Reading
I have commented previously on the role that whistleblowers have to play in the context of alerting the appropriate authorities or corporate governance structures of apparent acts of money laundering, fraud or corruption.… Continue Reading
The Securities and Exchange Commission awarded more than $1.8 million to a whistleblower who provided critically important information and assistance to an enforcement action involving overseas misconduct.
The SEC’s redacted award order (pdf) didn’t provide other details about the whistleblower or the company involved.… Continue Reading
The U.S. Securities and Exchange Commission said Tuesday it awarded an overseas whistleblower $500,000.
In a brief announcement, the SEC said the whistleblower’s “expeditious reporting” helped the agency bring a successful enforcement action.… Continue Reading
The Securities and Exchange Commission awarded two whistleblowers $3 million Monday for providing a tip that led to a “successful enforcement action involving an alleged securities law violation that impacted retail investors.”… Continue Reading
The Securities and Exchange Commission awarded more than $4.5 million to a whistleblower whose tip triggered the company to launch an internal investigation and report the whistleblower’s allegations to the SEC and another agency.… Continue Reading
The Securities and Exchange Commission said Tuesday it awarded two whistleblowers $50 million in the same case. One award was $13 million and the other award was $37 million.
The $37 million award is the SEC’s third-biggest award ever.… Continue Reading
The SEC’s Office of the Whistleblower received 5,282 tips during FY2018, including 202 FCPA-related complaints.
Overall, tips came from individuals in 72 foreign countries and the United States.
The SEC’s fiscal year ended on September 30.… Continue Reading
The Securities and Exchange Commission reduced a whistleblower award to $1.5 million Friday because the whistleblower was “culpable” and delayed reporting the misconduct for a year.
The whistleblower provided “vital information and ongoing assistance that proved important to the overall success of an enforcement action.”… Continue Reading