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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 Settles Unprecedented Whistleblower Retaliation Lawsuit

Like several other federal agencies, the Securities and Exchange Commission has implemented a whistleblower program allowing those with first-hand knowledge of fraud to come forward, report what they know, and enjoy protection from employer retaliation. As we have reported in the past, employees choosing to report fraud to internal compliance authorities do not enjoy the [...]

By | 2018-09-24T14:46:54+00:00 June 26th, 2014|SEC Fraud|

The SEC Files Brief in Support of Whistleblower in Case Against Siemens

Since 2010, the SEC has received thousands of whistleblower complaints, many of which have resulted in lucrative settlements against fraudulent investors.Image source: Wikimedia Commons In 2010, the Dodd Frank Act was enacted to further financial reform and bring about greater integrity from those working on Wall Street. One of the hallmark features of [...]

By | 2018-03-27T09:05:09+00:00 April 2nd, 2014|SEC Fraud|

Securities and Exchange Commission Joins False Claims Act Investigation Against KBR

KBR operates military logistics all over the world and is one of the largest supporters of the U.S. military, arranging for housing and food for troops stationed across the globe.Image source: Wikimedia Commons Over the past year, we have examined a False Claims Act case against one of the largest military contractors in [...]

By | 2018-03-26T01:08:18+00:00 March 31st, 2014|Military Contractor Fraud|

Securities and Exchange Commission Announces Plans to Enhance Whistleblower Program

Under the 2010 Dodd Frank Act, the Securities and Exchange Commission was tasked with organizing and implementing a whistleblower program similar to the False Claims Act – which has proven widely successful since its inception in the 1800’s. As a result, the SEC worked tirelessly to create its Office of the Whistleblower (“OWB”) and has [...]

By | 2018-09-24T14:53:43+00:00 February 19th, 2014|SEC Fraud|

The Threat of Securities Fraud: A Global Perspective

In recent years, Congress expressed interest in mimicking the federal False Claims Act in an effort to identify, punish, and deter acts of fraud against taxpayers, investors, and the federal government as a whole in other areas. As a result, the 2010 Dodd Frank Act, which was drafted to implement serious changes to Wall Street, [...]

By | 2018-09-24T14:55:28+00:00 January 28th, 2014|SEC Fraud|