Whistleblowers


Clayton_hearing

SEC’s Clayton: Talk of whistleblower cap ‘misguided’

2019-12-12T16:43:00+00:00By

Amid controversy surrounding proposed changes to the SEC’s whistleblower program, Chairman Jay Clayton continues to stress any adjustments won’t include a cap on awards.

Whistleblower

SEC awards three whistleblowers $260,000

2019-11-20T14:59:00+00:00By

The SEC has awarded over $260,000 to three individuals who jointly submitted a tip alerting the agency to a well-concealed fraud targeting retail investors that led to a successful enforcement action. The whistleblowers were, themselves, harmed investors.

Whistle

SEC sees slight decrease in number of whistleblower tips fielded

2019-11-19T18:30:00+00:00By

The Securities and Exchange Commission, in its annual report to Congress, indicated it fielded 5,212 whistleblower tips in fiscal year 2019, down 1 percent from the record of 5,282 in FY2018.

Money

Sutter Health pays $30M in lawsuit

2019-11-15T19:35:00+00:00By

Healthcare services provider Sutter Health will pay $30.5 million in a lawsuit filed by a former compliance officer alleging fraud and kickbacks, though Sutter did not admit laibility and points out there was no finding that Sutter violated anti-kickback laws.

Decrease

CFTC whistleblower payouts, tips received drop in FY2019

2019-11-11T20:11:00+00:00By

The CFTC made a handful of big payouts to whistleblowers in fiscal year 2019, but denied awards on 129 applications in the same timeframe.

askamii

Ask Amii mailbag: Steps to encourage employees to speak up

2019-11-05T17:43:00+00:00By

This edition of the Ask Amii mailbag offers tips on how to ensure your employees feel safe blowing the whistle, suggestions for encouraging collaboration, and advice for data managers on how to manage data ethically and responsibly in a segmented firm.

Mattel

Mattel ousts CFO after accounting probe reveals weaknesses

2019-10-30T18:26:00+00:00By

Following an investigation spurred by a whistleblower letter, Mattel announced it has uncovered material weaknesses in its internal controls over financial reporting and is now working to remediate the issues.

Gold

EY accused in U.K. gold-laundering scheme

2019-10-29T17:41:00+00:00By

Big Four audit firm EY has been accused of covering up evidence of smuggling by an organized crime gang that was laundering British drug money through gold dealings, according to an investigation by the BBC.

ConfidentialLetter

Unethical practices at Infosys? SEC opens probe

2019-10-25T18:08:00+01:00By

The SEC has launched an investigation into Infosys based on an anonymous letter the agency received from several Infosys employees alleging CEO Salil Parekh forced them to engage in “disturbing unethical practices.”

ClaytonTop

Senators call out SEC over PCAOB whistleblower report

2019-10-23T17:10:00+01:00By

A letter sent by two senators addressed to SEC Chairman Jay Clayton critiques the regulator’s oversight of the PCAOB as showing “questionable judgment and an alarming lack of transparency.”

OneMoreTime

Fourth time a charm? Senate again passes whistleblower protection bill

2019-10-21T13:17:00+01:00By

The U.S. Senate has once again passed an act to allow employees who believe they are the victim of retaliation to file a complaint with the Secretary of Labor and to be reinstated to their former status if the Secretary finds in their favor.

Hotline

First-ever directory of companies’ anonymous reporting hotlines released

2019-10-18T17:32:00+01:00By

A newly published online directory offers employees of Fortune 500 companies 10 tips and other best practices for reporting sexual misconduct, ethical violations, and fraud.

Board table

PCAOB swaps board members, faces whistleblower report

2019-10-15T21:03:00+01:00By

The SEC has ousted Kathleen Hamm as a board member at the PCAOB, replacing her with White House aide Rebekah Goshorn Jurata. The swap, along with a whistleblower report, signal internal strife at the audit regulator.

ProtectWhistleblowers

EU whistleblower protection law gets go-ahead

2019-10-08T14:02:00+01:00By

Whistleblower protections against dismissal, demotion, and other forms of retaliation will come into effect in the European Union within the next two years, according to an agreement signed recently by EU leaders.

WhistleblowerReward

Whistleblower awarded $7M for ‘limited assistance’

2019-10-01T19:54:00+01:00By

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.

Whistle

House approves PCAOB whistleblower program

2019-09-23T17:32:00+01:00By

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.

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SEC awards whistleblower $1.8M for 'extensive' assistance

2019-08-30T16:29:00+01:00By

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.

GE

GE whistleblower report shines light on insurance liability

2019-08-29T19:31:00+01:00By

Recent whistleblower allegations against GE have put a spotlight on mounting liabilities that will hit corporate balance sheets when insurance accounting rules shift.

Whistle

Is whistleblowing working? New claims raise questions

2019-08-21T19:43:00+01:00By

Sweeping, open allegations of fraud against major public companies raise fresh questions about the effectiveness of regulatory whistleblower programs.

GeneralElectric

GE rails against new whistleblower allegations of fraud

2019-08-16T18:26:00+01:00By

GE picks apart new whistleblower allegations of $38 billion accounting fraud. “Market manipulation—pure and simple,” says Chairman and CEO Larry Culp.

Whistle

House considers creating PCAOB whistleblower program

2019-08-02T19:23:00+01:00By

The House is considering a bill that would give the PCAOB a whistleblower system under Sarbanes-Oxley like the one operated by the SEC.

Cisco

Cisco’s $8.6M settlement for security flaws has broader ramifications

2019-08-02T17:15:00+01:00By

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.

Global

Overseas whistleblowers continue to fuel SEC program

2019-07-25T17:15:00+01:00By

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.

pills

Novartis sets aside $700M in kickback case

2019-07-19T15:19:00+01:00By

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.

Whistleblower

CFTC issues joint $2M whistleblower award

2019-07-02T14:12:00+01:00By

The Commodity Futures Trading Commission announced on July 1 an award of $2 million to two “model whistleblowers” who provided the agency with “significant information” that prompted the CFTC to open an investigation.

CFTC

CFTC issues reduced whistleblower award of $2.5M

2019-06-25T16:58:00+01:00By

The Commodity Futures Trading Commission has awarded a whistleblower $2.5 million for assisting it in an investigation, but the award could have been larger if the report was made sooner, the CFTC said.