SEC Whistleblower Blog

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...

Foreign Bribes Subject Texas Aircraft Maintenance Company to Huge Fines

December 15, 2014
Foreign bribery whistleblowers will be encouraged by news that a company providing aircraft engine maintenance services has admitted to violating U.S. foreign bribery law and agreed to pay a $14 million fine.  According to a statement issued by the U.S. Department of Justice on Wednesday, December 10, 2014, the company, Dallas...

Third Circuit Compels Arbitration for Dodd-Frank Whistleblower

December 9, 2014
Whistleblowers seeking protection from the anti-retaliation provisions of the Dodd-Frank Act suffered a setback on December 8, 2014, when the U.S. Court of Appeals for the Third Circuit ruled that the Dodd-Frank Act’s anti-arbitration provision did not apply to whistleblower retaliation claims brought under the Dodd-Frank Act....

CFTC Whistleblowers Buoyed By Encouraging Annual Report

December 3, 2014
Whistleblowers in the commodity futures industry received encouraging news last month when the Commodity Futures Trading Commission (“CFTC” or “Commission”) issued its Annual Report.  The CFTC was created in 1974 to oversee U.S. derivatives markets, such as commodity futures, options, and swaps.  In its Annual Report, the CFTC...

Whistleblower Tips Increase Penalties for Unscrupulous Companies

December 1, 2014
When the government takes action against companies based on whistleblower tips, those Companies are subjected to penalties that, on average, are 63 percent larger than companies the government pursues independent of whistleblower involvement, according to a study Rachel Louise Ensign recently wrote about in the Wall Street...

House Democrats Write SEC Chairwoman White Regarding Efforts to Curtail Whistleblowers

November 20, 2014
Eight Democratic members of the House Committees on Financial Services and Oversight and Government Reform recently sent a letter to Securities and Exchange Commission (“SEC”) Chairwoman Mary Jo White setting forth their concerns regarding “corporate practices [that] may deter whistleblowers from reporting violations of the...

SEC Whistleblower Boss Discusses Paying Whistleblower Awards

October 28, 2014
Securities and Exchange Commission (“SEC”) whistleblower director Sean McKessy shares the desire of SEC whistleblowers and their counsel to increase the size and frequency of whistleblower awards, according to a recent Law360 interview. He stressed, however, that he was constrained by the confines of the Dodd-Frank Wall Street...

SEC Whistleblower Office Chief Stresses Importance of Anonymity

October 23, 2014
Securities and Exchange Commission (“SEC”) whistleblowers may be able to breathe a little easier in the wake of recent statements made by the head of the SEC whistleblower program, Sean McKessy.  McKessy made clear in a recent interview with Law360 that protecting the anonymity of whistleblowers was among his office’s highest...

SEC Chair Lauds Success of SEC Whistleblower Reward Program

October 20, 2014
Securities and Exchange Commission (“SEC”) Chair Mary Jo White spoke at a conference in Toronto on Thursday, October 16, 2014, at which she extolled the virtues of the SEC Whistleblower Program, which was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) in 2010.  The Dodd-Frank...

FINRA Issues Notice Restricting Use of Confidentiality Provisions in Severance Agreements

October 15, 2014
The Financial Industry Regulatory Authority (“FINRA”) issued a Regulatory Notice on Friday, October 10, 2014, that was welcome news to financial industry whistleblowers, stating that companies must refrain from entering arbitration settlements with confidentiality provisions which fail to expressly authorize individuals to...

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