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Enforcement Action

Jaclyn Jaeger is an Editor at Compliance Week. She writes on a wide variety of topics, including ethics and compliance, regulatory enforcement matters, risk management, technology, and more. Jaeger welcomes questions and comments from readers; she can be reached via e-mail at jaclyn.jaeger@complianceweek.com.
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Enforcement Action Blog
SEC Brings First Action on Whistleblower ‘Pre-taliation’
Bruce Carton | April 1, 2015
The SEC has filed its first enforcement action against a company for what the agency has previously labeled “pre-taliation”—using confidentiality agreements or other agreements to potentially stifle the whistleblowing process. The company in question was KBR, which will pay $130,000 in penalties. See inside for more details.
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Enforcement Action Blog
SEC Awards $700,000 to Whistleblower Who Was Company Outsider
Bruce Carton | January 19, 2016
It took over five years, but we finally have a success story in the “professional whistleblower” area. The SEC has awarded more than $700,000 to an industry expert (a company outsider) who conducted a detailed analysis that led to a successful SEC enforcement action. Sean McKessy, chief of the SEC’s Office of the Whistleblower, said the award “demonstrates the Commission’s commitment to awarding those who voluntarily provide independent analysis as well as independent knowledge of securities law violations to the agency.”
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Enforcement Action Blog
Jane Norberg named chief of SEC's Office of Whistleblower
Bruce Carton | September 29, 2016
Yesterday, the SEC named Jane Norberg as the new Chief of the SEC’s Office of the Whistleblower. Norberg, previously the Acting Chief, fills the position left vacant when Sean McKessy left the agency this summer.
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Enforcement Action Blog
SEC awards nearly $2 million in latest blockbuster whistleblower payout
Bruce Carton | March 9, 2016
The SEC announced another blockbuster whistleblower award yesterday. The agency stated that it will pay nearly $2 million to three whistleblowers in a case -- including a payment of approximately $1.8 million to one of the three whistleblowers.
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Enforcement Action Blog
After rejection, SEC whistleblower's persistence leads to $3.5 million award
Bruce Carton | May 14, 2016
On Friday, the SEC announced its latest whistleblower award -- a sizable one that is noteworthy for at least three reasons.
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Enforcement Action Blog
SEC’s whistleblower office on winning roll
Bruce Carton | May 17, 2016
The SEC’s Office of the Whistleblower has been on a winning streak, which continued this week as it announced an award of between $5 million and $6 million to a former company insider whose tips uncovered hidden securities violations. The office has now awarded more than $67 million to 29 whistleblowers since it launched in 2011. Bruce Carton has more.
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Enforcement Action Blog
Hybrid group of whistleblowers on cusp of huge awards
Bruce Carton | August 10, 2016
A new hybrid group of professional whistleblowers and corporate employees is about to get paid massive sums for their efforts to uncover securities law violations in the foreign exchange markets. Bruce Carton reports.
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Enforcement Action Blog
SEC $22M whistleblower award edges program total over $100M
Bruce Carton | August 30, 2016
The SEC’s Office of the Whistleblower has been cranking out major awards all summer—the latest an award of more than $22 million—which means, says Bruce Carton, the whistleblower program has surpassed $100 million.
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Enforcement Action Blog
Former SEC Whistleblower Chief McKessy lands at law firm
Bruce Carton | September 6, 2016
Sean McKessy, the former first-ever chief of the SEC’s Office of the Whistleblower, is joining law firm Phillips & Cohen as a partner in its Washington, D.C. office. Bruce Carton has more.
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Enforcement Action Blog
U.K. Regulators Oppose Offering Whistleblower Rewards
Joe Mont | July 31, 2014
U.K. regulators are recommending that Parliament not create a financial reward program for whistleblowers akin to one administered by the U.S. Securities and Exchange Commission. According to the agencies, there is no evidence that financial incentives lead to an increase in the number or quality of disclosures, and they say a reward program could undermine internal whistleblower programs. More inside.
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Enforcement Action Blog
SEC Reverses Course, Awards $400,000 to Whistleblower
Joe Mont | July 31, 2014
The Securities and Exchange Commission has reversed an earlier decision and awarded $400,000 to a whistleblower it had previously denied. The claim was initially dismissed because a self-regulatory organization was already investigating the matter. The whistleblower later persuaded officials that he or she was “engaged in diligent efforts to correct and to bring to light the underlying misconduct in this case.” More inside.
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Enforcement Action Blog
Study: Whistleblowers Are More Costly Than You Thought
Joe Mont | November 11, 2014
When whistleblowers tip off the government with information about corporate wrongdoing, the damage can be more costly than otherwise expected, according to a new study. Even before the SEC started offering rewards for actionable information, the assistance of one or more tipsters in an enforcement action increased penalties by an average of 30 percent and nearly doubled prison sentences. Details inside.
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Enforcement Action Blog
Court: Whistleblowers Protected, SEC Reporting or Not
Joe Mont | September 10, 2015
A federal appeals court has ruled that employees are covered by anti-retaliation protections for whistleblowers provided by the Dodd-Frank Act, even if they don’t file a report with the SEC. The ruling is a warning to businesses to tread carefully when handing out discipline to a suspected whistleblower, whether or not the SEC is involved. More inside.
Displaying 13 results