SEC Whistleblower Blog

CFTC releases new rules pursuant Dodd-Frank reforms, including whistleblower program

August 5, 2011
The Commodities Futures Trading Commission (CFTC), the US Government Agency which regulates the $601 trillion futures and options trading markets, voted 4-1 yesterday to adopt rules for its new whistleblower program, as well as for mandating that all transactions in those markets be recorded in a database.  These rules have...

SEC Whistleblowers Will Protect Investors and Earn Their Rewards

July 29, 2011
 July 28, 2011 – In an lengthy opinion piece published in today’s National Law Journal¸ whistleblower lawyers David J. Marshall and Alison Asarnow explain that the new SEC whistleblower program serves and important public interest in addressing securities violations and also provides the incentives that are needed to help...

SEC's New Tips Database and Whistleblower Program Underway

July 28, 2011
Reuters reported yesterday on the SEC’s new “Tips, Complaints, and Referrals” (TCR) Database, which the agency is now using to track tips provided to the SEC.  Reuters reports that tips entered into the $21 million system can be accessed by 2,300 SEC employees, a far cry from the system formerly used at the SEC, where tips...

Whistleblower Lawyer David J. Marshall Presents on New SEC Whistleblower Program Rules from the Whistleblower’s Perspective

July 12, 2011
On July 6, 2011, whistleblower lawyer David J. Marshall of the law firm Katz, Marshall & Banks in Washington, DC, who recently authored a comprehensive guide to the new SEC whistleblower program, presented on a panel discussing those new whistleblower provisions in connection with the D.C. Bar CLE Program. Mr. Marshall...

In an Unpublished Opinion, the Fifth Circuit Affirms a district court opinion rejecting an auditor’s SOX Claim but did not raise the burden of proof as some employment defense lawyers have indicated

July 5, 2011
The Fifth Circuit Court of Appeals recent decision in Hemphill v. Celanese Corporation, Case No. 10-cv-10746 (5th Cir. June 23, 2011) (unpublished) affirmed an order granting summary judgment in the employer’s favor on grounds that the plaintiff’s engagement in protected activity was not a contributing factor to terminate his...

$230M in overseas funds tainted by domestic Ponzi scheme tests SEC’s reach

July 1, 2011
The degree of the reach of the SEC’s authority is being tested by a $230 million fraud case.  The SEC charged Francisco Illarramendi in January of this year with running a Ponzi scheme through his unregistered investment advisory firm Michael Kenwood Capital Management.  Later this year Highview Point Partners LLC was added as...

Guide to SEC Whistleblower Program published by Whistleblower lawyer David J. Marshall

June 27, 2011
David J. Marshall, a partner at Katz, Marshall & Banks, LLP, has published a comprehensive SEC Whistleblower guide outlining the rules that empower insiders to earn substantial monetary awards for reporting securities violations to the Securities and Exchange Commission.  Since the passage of the Sarbanes-Oxley Act in 2002...

Guide to SEC Whistleblower Program published by Whistleblower lawyer David J. Marshall

June 27, 2011
David J. Marshall, a partner at Katz, Marshall & Banks, LLP, has published a comprehensive SEC Whistleblower guide outlining the rules that allow insiders to earn substantial monetary awards for reporting securities violations to the Securities and Exchange Commission.  Since the passage of the Sarbanes-Oxley Act in 2002,...

Anxiety grows as CFTC and SEC stall on new rules for derivatives trading

June 8, 2011
 Anxieties are mounting in the derivatives market and the connected legal community as it becomes increasingly evident that the Commodities Futures Trading Commission (“CFTC”) and the Securities and Exchange Commission (“SEC”) will not have the new regulatory rules for that market completed by July 16, the day they are required...

Securities and Exchange Commission Rejects Business-backed Attack on Dodd-Frank Whistleblower Program; SEC Final Rules Issued Today Will Encourage Whistleblowers to Report Securities Violations to Commission

May 25, 2011
The SEC adopted long-awaited final rules that govern the Commission’s whistleblower program established by the 2010 Dodd-Frank financial reform law at a public meeting this morning.  The program provides whistleblowers with financial awards if they provide original information to the SEC leading to a successful enforcement...

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