SEC Whistleblower Blog

Cybersecurity Front and Center in SEC’s Recent $100M Insider-Trading Enforcement Action

August 28, 2015
By Alexis H. Ronickher On August 13, 2015, the Securities and Exchange Commission (SEC) announced its first enforcement action involving cybersecurity.  In SEC v. Dubovoy et al., the SEC charged 32 defendants for taking part in an insider-trading scheme.  Over a five-year period of time, the hacker defendants hacked into at...

SEC Pushes for Amicus Brief to Clarify Dodd-Frank Internal Whistleblower Protection

August 11, 2015
In an unusual request to a trial court, the U.S. Securities and Exchange Commission moved a California federal court on August 7th, 2015, to allow the commission to file an amicus brief on behalf of Sanford Wadler, previously in-house counsel for Bio-Rad Laboratories, Inc., who is suing his former employer for retaliation in...

SEC Pushes for Amicus Brief to Clarify Dodd-Frank Internal Whistleblower Protection

August 11, 2015
In an unusual request to a trial court, the U.S. Securities and Exchange Commission moved a California federal court on August 7th, 2015, to allow the commission to file an amicus brief on behalf of Sanford Wadler, previously in-house counsel for Bio-Rad Laboratories, Inc., who is suing his former employer for retaliation in...

Compliance Officer Receives SEC Whistleblower Award

April 23, 2015
A whistleblower who provided information to the U.S. Securities and Exchange Commission (SEC) will receive a financial whistleblower award of between $1.4 million and $1.6 million, according to a press release issued yesterday by the SEC.  The Commission announced it will present the whistleblower award to an anonymous...

SEC Orders Halt to Agreements Impeding Whistleblower Reports

April 21, 2015
The U.S. Securities and Exchange Commission (SEC) announced earlier this month that it intends take action against companies that use confidentiality agreements to stifle whistleblowers’ ability to report wrongdoing to government authorities.  The SEC accompanied its announcement with an order instituting cease and desist...

SEC Creates Incentives for Companies to Self-Report FCPA Violations

March 16, 2015
The effectiveness of foreign bribery whistleblowers was lauded last week by an official from the U.S. Securities and Exchange Commission (SEC), as the agency, along with the U.S. Department of Justice (DOJ), explained the benefits of companies self-reporting violations of the Foreign Corrupt Practices Act (FCPA). ...

SEC Issues Award to Corporate Officer Whistleblower

March 3, 2015
The U.S. Securities and Exchange Commission (SEC) Whistleblower Office announced yesterday that it would pay a whistleblower award of between $475,000 and $575,000 to a former corporate officer who reported fraud that he or she learned of through another employee reporting the misconduct internally.  Although information...

SEC Orders Goodyear to Pay Hefty Fine for FCPA Violations

February 26, 2015
The U.S. Securities and Exchange Commission (SEC) recently sanctioned Goodyear Tire & Rubber Co. for violations of the Foreign Corrupt Practices Act (FCPA), imposing a penalty of $16.2 million on the company as a result of bribes paid to foreign officials by Goodyear subsidiaries in Kenya and Angola.  According to the SEC’s...

Recent Criticisms of Whistleblower Reward Programs Miss the Mark

February 12, 2015
An opinion editorial by former corporate attorney Steven Solomon, published in the New York Times in late December, criticized what he called the “perverse incentives” that the U.S. government’s whistleblower reward programs create for “bad people” who decide to become whistleblowers.  Solomon argues that the whistleblower-...

GAP Legal Director Tom Devine Praises KMB's SEC Whistleblower Practice Guide

January 16, 2015
David Marshall’s SEC Whistleblower Practice Guide was given a glowing review earlier this week by the Tom Devine, the Legal Director of the Government Accountability Project (“GAP”), who described the Guide as “the definitive guide to the [SEC] whistleblower bounty program.”  The SEC Whistleblower Guide, which is available on...

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