SEC Whistleblower

SEC Settles Fraud Case Regarding Restrictive Language With KBR, Inc.

Whistleblowers with knowledge of possible securities fraud are able to report this fraud confidentially under the relatively new whistleblower provisions of the 2010 Dodd Frank Act. If an employee opts to report the information directly to the government, he or she is thereafter protected from retaliatory maneuvers by the employer and can even seek [...]

By | 2018-09-24T14:45:16+00:00 April 20th, 2015|SEC Fraud|

SEC Announces Whistleblower Reward for Former Company Officer

Implemented by the 2010 Dodd Frank Act, the Securities and Exchange Commission (SEC) maintains a growing whistleblower program. Much like the False Claims Act, the SEC’s program is designed to offer confidential consideration of fraud claims, as well as incentives for successful prosecutions of costly and wasteful securities fraud. In today’s post, we discuss [...]

By | 2018-09-24T14:41:51+00:00 March 26th, 2015|SEC Fraud|

Securities Ratings Firm Standard & Poor’s Settles Fraud Charges for $58 Million

In a victory for the Securities and Exchange Commission, the securities ratings firm Standard & Poor’s has agreed to settle claims it fraudulently certified certain mortgage-backed securities as good investments, as well as claims the firm used a certain methodology to calculate risk with regard to commercial mortgage-based securities when, in fact, a different [...]

By | 2018-09-24T14:58:47+00:00 February 10th, 2015|SEC Fraud|

SEC Announces Highest Whistleblower Reward on Record

In light of the 2008 financial crisis – which was propelled primarily by corporate misconduct and serious Wall Street delinquency – the 2010 Dodd-Frank Act was created in order to not only police investor transgressions but to incentivize those with knowledge of possible securities fraud to come forward and report their information to confidential [...]

By | 2018-09-24T14:35:32+00:00 October 10th, 2014|SEC Fraud|

The Dodd-Frank Act and FCPA Whistleblowers

The federal government uses the Foreign Corrupt Practices Act (FCPA) as a means to prosecute and punish those individuals who violate securities laws or bribe foreign officials. For instance, when someone bribes a foreign government to expand business abroad, falsifies financial records or disregards internal control guidelines under securities laws, they can be prosecuted under [...]

By | 2018-06-14T11:12:42+00:00 July 3rd, 2013|SEC Fraud|

Second Dodd-Frank Whistleblower Award Announced in Hedge Fund Scheme

After assuring citizens they would soon see additional whistleblower rewards from the Securities and Exchange Commission (SEC), officials were proud to announce the issuance of a substantial Dodd-Frank whistleblower award. This second-ever Dodd-Frank whistleblower award results from a district court ruling that ordered Locust Offshore Management and its CEO, Andrey C. Hicks, to pay $7.5 [...]

By | 2018-09-24T14:51:36+00:00 June 18th, 2013|SEC Fraud|

SEC Whistleblower was Key to Enforcement Action Against Institutional Shareholder Services

Once again, the Securities and Exchange Commission (SEC) whistleblower program has proven to be a vital tool in the fight against securities fraud. After receiving a critical whistleblower tip concerning securities fraud within a Maryland-based proxy adviser firm, the SEC was able to quickly move forward with administrative proceedings. A successful settlement of charges against [...]

By | 2018-09-24T14:49:23+00:00 June 13th, 2013|SEC Fraud|