On Tuesday October 25th, the Securities and Exchange Commission announced a global settlement along with the U.S. Department of Justice and Brazilian authorities that requires aircraft manufacturer Embraer S.A. to pay more than $205 million to resolve alleged violations of the Foreign Corrupt Practices Act (FCPA).
Continue Reading Brazilian Aircraft Maker Settles Bribery Charges for $205 Million
Washington, D.C. October 12, 2016. The Securities and Commodities Exchange(SEC) announced yesterday that fiscal year 2016, which ended on September 30, 2016, was a record year for SEC enforcement. The agency reached new highs in enforcement in all areas, especially for whistleblowers.
Continue Reading SEC Announces Record Year Standing Up for Whistleblowers
Washington D.C. October 9, 2016. Och-Ziff Capital Management Group (Och-Ziff), A New York-based alternative investment and hedge fund manager, agreed to pay a combined total amount of U.S. criminal and regulatory penalties of approximately $412 million to settle charges it violated the Foreign Corrupt Practices Act. In separate announcements yesterday the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) each described the actions of Och-Ziff which led to the charges the company violated the FCPA.
Continue Reading Och-Ziff Hedge Fund Pays Over $400 Million to Settle Foreign Bribery Charges
Washington, D.C. October 5, 2016. The Securities and Exchange Commission (SEC) announced today that Anheuser-Busch InBev has agreed to pay $6 million to settle charges that it violated the Foreign Corrupt Practices Act (FCPA) and chilled a whistleblower who reported the misconduct.
Continue Reading Anheuser Busch InBev Settles SEC Claim It Silenced Employee
On September 14, 2016, SEC Enforcement Director Andrew Ceresney spoke at the Sixteenth Annual Taxpayers Against Fraud Conference about the SEC’s whistleblower program. His remarks covered issues from the impact of the whistleblower program on the Agency to the role of whistleblower attorneys as they help their clients navigate the investigative and claims process.
Continue Reading SEC Enforcement Director Speaks on The Impact of the Whistleblower Program
The SEC Office of the Whistleblower posts Notices of Covered Action where a final judgment or order, by itself or together with other prior judgments or orders in the same action issued after July 21, 2010, results in monetary sanctions exceeding $1 million. Subject to the Final Rules, individuals who voluntarily provided the Commission with original information after July 21, 2010 that led to the successful enforcement of a covered action listed below are eligible to apply for a whistleblower award. Once a Notice of Covered Action is posted by the SEC, individuals have 90 calendar days to apply for an award.
View the updated list below:
Continue Reading March-May 2016 SEC Whistleblower Awards List
SEC Investigation into overly restrictive non-disclosure agreements was triggered by complaint filed by former KBR Contractor Harry Barko
Washington, D.C. , 2015. April 1, 2015. Today the U.S. Securities and Exchange Commission sanctioned defense contractor KBR for requiring its employees to sign restrictive non-disclosure agreements that prohibited employees from properly reporting fraud and misconduct to
Washington, D.C. January 15, 2016. The Securities and Exchange Commission issued a landmark award to an industry expert who provided it with “high-quality analysis” in an enforcement action. The whistleblower award of more than $700,000 marks the first time the SEC has issued an award to someone outside a company since the whistleblower office opened in 2011.
Continue Reading SEC Awards Company Outsider $700,000
Washington, D.C. December 22, 2015. On December 8, 2015, the Eastern District of Tennessee dismissed a whistleblower’s claims, finding that the Plaintiff was not entitled to protection under the whistleblower provisions of the Dodd-Frank Act. Verble v. Morgan Stanley Smith Barney LLC et al., 3:15-cv-00074 (E.D. Tenn. Dec. 8, 2015). The court’s decision further divides the split amongst circuits regarding the scope of the Dodd-Frank’s whistleblower protection provision.
Continue Reading Court Ruling Threatens Internal Compliance Programs
The SEC Office of the Whistleblower post Notices of Covered Action where a final judgment or order, by itself or together with other prior judgments or orders in the same action issued after July 21, 2010, results in monetary sanctions exceeding $1 million.Subject to the Final Rules, individuals who voluntarily provided the Commission with original information after July 21, 2010 that led to the successful enforcement of a covered action listed below are eligible to apply for a whistleblower award.Once a Notice of Covered Action is posted, individuals have 90 calendar days to apply for an award.
View the updated list below:
Continue Reading August 2015 SEC Whistleblower Awards List