A whistleblower who provided the Commodity Futures Trading Commission with “limited assistance” about misconduct that prompted an investigation was still awarded $7 million, the agency announced.
Whistleblowers
Posted inAccounting & Auditing
House approves PCAOB whistleblower program
The U.S. House of Representatives has passed a bill to move the creation of a whistleblower program at the PCAOB forward. While some praised the development, others cautioned it’s a redundant and flawed measure.
Posted inWhistleblowers
SEC awards whistleblower $1.8M for ‘extensive’ assistance
The SEC awarded more than $1.8 million to a whistleblower whose information and assistance were “critically important” to the success of an enforcement action involving misconduct committed overseas.
Posted inAccounting & Auditing
GE whistleblower report shines light on insurance liability
Recent whistleblower allegations against GE have put a spotlight on mounting liabilities that will hit corporate balance sheets when insurance accounting rules shift.
Posted inAccounting & Auditing
Is whistleblowing working? New claims raise questions
Sweeping, open allegations of fraud against major public companies raise fresh questions about the effectiveness of regulatory whistleblower programs.
Posted inAccounting & Auditing
GE rails against new whistleblower allegations of fraud
GE picks apart new whistleblower allegations of $38 billion accounting fraud. “Market manipulation—pure and simple,” says Chairman and CEO Larry Culp.
Posted inAccounting & Auditing
House considers creating PCAOB whistleblower program
The House is considering a bill that would give the PCAOB a whistleblower system under Sarbanes-Oxley like the one operated by the SEC.
Posted inTechnology
Cisco’s $8.6M settlement for security flaws has broader ramifications
Cisco has reached an $8.6 million settlement for knowingly selling video surveillance software with critical security vulnerabilities. It’s believed to be the first cyber-security whistleblower case of its kind successfully litigated under the False Claims Act.
Posted inWhistleblowers
Overseas whistleblowers continue to fuel SEC program
Foreign national whistleblowers play a strong role in the SEC’s whistleblower program, highlighted by the most recent award of $500,000 to an overseas informant. This latest payout appears to mark at least the 13th time the SEC has awarded an overseas whistleblower.
Posted inWhistleblowers
Novartis sets aside $700M in kickback case
Swiss pharmaceutical drug maker Novartis announced it has set aside $700 million for a potential settlement in a long-running lawsuit over allegations that the company paid hundreds of millions of dollars in kickbacks to doctors to induce them into prescribing drugs to patients to boost their sales.
