Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
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

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Bill Steinman
Contributing Editor

SEC rewards ‘overseas’ whistleblower

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

SEC awards joint whistleblowers $3 million

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.”

The two whistleblowers submitted their tip jointly and will share the $3 million award.… Continue Reading

SEC awards whistleblower $4.5 million

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

New Brazil bill seeks to add NPAs and whistleblower rewards

Earlier this month, the Brazilian Minister of Justice Sergio Moro presented a bill proposing an “anticrime package,” establishing “measures against corruption, organized crime and crimes committed with serious violence.”

The bill proposes modifications in fourteen laws, ensuring the enforcement of the conviction after an appellate court judgment, increasing the effectiveness of the jury, guaranteeing the serving of the sentences, increasing the penalties for crimes related to firearms, reforming the crime of “resistance,” and criminalizing slush funds.Continue Reading

New York regulator fines Barclays $15 million for whistleblower program flaws

Barclays CEO Jes Staley ignored his CCO and GCNew York’s Department of Financial Services fined Barclays Bank PLC and its New York branch $15 million Tuesday because of attempts by the bank’s CEO, Jes Staley, to unmask a whistleblower “in contravention of Barclays’ established whistleblowing policies and procedures.” 

The DFS said it found “shortcomings in governance, controls and corporate culture relating to Barclays’ whistleblowing function.”

Those flaws “permitted a sequence of events that potentially could have had a detrimental impact on the efficacy of Barclays’ whistleblowing program.”

In May this year, UK regulators fined Staley £642,430 (about $871,000) for trying to identify at least one anonymous whistleblower who made allegations about Staley’s role in recruiting another employee.… Continue Reading

Overseas whistleblower awarded $4 million

The Securities and Exchange Commission awarded an overseas whistleblower $4 million for “extensive assistance” resulting in a successful action, the agency said Monday. 

Chief of the SEC’s Office of the Whistleblower Jane Norberg said, “Whistleblowers, whether they are located in the United States or abroad, provide a valuable service to investors and help us stop wrongdoing.”

“This award recognizes the continued, important assistance provided by the whistleblower throughout the course of the investigation,” Norberg said. 

In Monday’s order (pdf), the SEC said the outcome of the action was a direct result of the whistleblower’s tip. 

The SEC didn’t specify the citizenship of the whistleblower. 

Last year, a foreign national working outside the United States was awarded $4.1 million for providing information on “a widespread, multi-year securities law violation.”

In 2014, the SEC awarded an overseas whistleblower $30 million.… Continue Reading