Imagine this: An anonymous hotline tip comes through that a senior executive has engaged in insider trading. This scenario happened this summer as part of academic research, effectively leaving hundreds of unwitting corporate subjects to foot the bill for unnecessary follow-up conducted.
The Department of Justice’s new Civil Cyber-Fraud Initiative is the latest development to suggest companies’ cybersecurity defenses had better be up to snuff when doing business with the U.S. government or risk enforcement.
European companies are expected to rush to comply with new whistleblower protection rules only when they take effect in December, meaning workers are not adequately protected for any disclosures they make in the meantime.
Seven senior compliance practitioners detail the steps their respective companies take to ensure whistleblowers are not retaliated against when reporting potential misconduct.
Many whistleblowers are forced to take their complaints outside the company because their attempts to address the problems internally are rebuffed or ignored. Facebook is paying the price for that inaction.
Seven senior compliance practitioners explain what they believe to be the key tenets of an internal reporting system that encourages employees to come forward with reports of potential misconduct.
Seven senior compliance practitioners share how they encourage employees to come forward with reports of potential misconduct in support of the greater mission of instilling a culture of compliance.
With the end of a record fiscal year around the corner, the Securities and Exchange Commission issued yet another top-10 whistleblower award at approximately $36 million.
The Securities and Exchange Commission surpassed $1 billion in whistleblower awards with the announcement of a $110 million payout to a whistleblower whose independent analysis led to two successful enforcement actions against a company.
Three compliance practitioners received shares of a more than $1 million whistleblower award announced by the Securities and Exchange Commission.
The British Standards Institution has created international guidance to help companies set up an effective whistleblowing management system.
Whistleblower is a loaded term, one that conjures up images of rats, snitches, and backstabbers. Maybe it’s time to call it something different.
Thinking of becoming a whistleblower? The path ahead likely won’t be easy. Learn from others that have been through the process.
Aaron Nicodemus explains what whistleblowers, their supporters, and advocates would like compliance officers who handle internal complaints to understand about the process from their side of the table.
The Securities and Exchange Commission will review two Trump-era changes to the agency’s whistleblower program, with an eye toward encouraging individuals to report wrongdoing.
It’s important to take stock of how far whistleblowing has advanced over the last few years. That said, there is still room for improvement. Aaron Nicodemus offers three suggestions.
The road to a payout for whistleblowers is long, lonely, and full of obstacles. Commitment to the idea that they are doing the right thing helped our whistleblower subjects endure years of hardship to bring their cases to conclusion.
Retaliation for blowing the whistle comes in all kinds of forms. Our whistleblower subjects share their stories—from losing jobs to getting blacklisted to being the target of a newspaper hit piece.
Once someone decides to blow the whistle, their life is forever changed. Their action stands to benefit many people they don’t even know while putting much in jeopardy on a personal level. Our whistleblower subjects each explain what led them to their determinations.
A bipartisan bill before Congress proposes tweaking the False Claims Act to extend anti-retaliation protections for whistleblowers who are not formally employed by the company or organization on which they blew the whistle.
Almost no one becomes a whistleblower by choice. A slow and steady whittling down of options often leads individuals to isolation in coming to their decision. Our whistleblower subjects share the roadblocks they faced in reporting internally.
Whistleblowers aren’t born—they’re made. For five individuals that have taken on that mantle, the story began with discovering a problem that could no longer be ignored.
This in-depth CW series chronicles the timeline of a whistleblower—from identifying wrongdoing to reporting and enduring subsequent hardships. Exclusive interviews impart key lessons for compliance officers seeking to become an ally to these individuals.
Why settle for an average compliance program when you can have so much more? It isn’t easy, but commitment to a handful of key requirements can push your program to the next level.
A measure to save the whistleblower program at the CFTC was signed into law by President Joe Biden, providing enough funding to keep the program running through October 2022. What lies beyond the bill’s support?
New York-based broker-dealer Guggenheim Securities has agreed to pay a $208,912 civil penalty for violating SEC whistleblower protection rules regarding language in its compliance manual.
With no requirements for the PCAOB to feature a certain number of members from each political party, the SEC has the chance to staff the organization with a decidedly Democratic majority. What might such a Board set out to change?
Natalie Mayflower Sours Edwards, a former senior advisor at FinCEN who provided 2,100 SARs to BuzzFeed News that would form the basis of 2020’s “FinCEN Files” investigation, was sentenced to six months in prison.
In an attempt to save the whistleblower program at the CFTC, the Senate approved a bill to create a separate fund to pay whistleblowers rather than having the office draw on penalties levied against wrongdoers.
Jane Norberg, former head of the whistleblower office at the Securities and Exchange Commission, has joined D.C. law firm Arnold & Porter as a partner.
Its monitorship now complete, Volkswagen’s new focus is to rebuild its reputation among its customer base. It’s a long process, says Board Member Hiltrud Werner, one supported by a shift in strategy.
The SEC has surpassed $900 million in whistleblower awards with a $28 million payout announced Wednesday. The award is said to be related to a Panasonic FCPA settlement from 2018.
The Securities and Exchange Commission announced more than $31 million in whistleblower awards related to two orders, with the largest share of $27 million split between two claimants in one case.
Two whistleblowers sought to undermine each other in vying for the majority of a $22 million award issued by the SEC regarding malfeasance reported at a financial services firm.
An EU directive designed to harmonize whistleblower protections could produce complexity as lawyers warn there are likely to be wide variations in the level of security each country’s national law will offer.
The Commodity Futures Trading Commission awarded approximately $3 million to a whistleblower in its first announced payout since September 2020.
The coronavirus pandemic dramatically altered incident reports and investigations in 2020. Despite facing unprecedented challenges, as analyzed in NAVEX Global’s latest benchmark study, compliance officers met the moment.
Aaron Nicodemus applauds outgoing SEC whistleblower chief Jane Norberg for “revolutionizing” the program and the agency, while Kyle Brasseur laments Facebook’s ethical bungling of its recent data leak.
A pair of tipsters were awarded over $50 million by the SEC in the agency’s second-largest payout under its successful whistleblower program.
The head of the Securities and Exchange Commission’s whistleblower program, Jane Norberg, will leave her post later this month.
Is there competition among international regulators with courting whistleblowers? If so, writes Martin Woods, the path to victory is obvious: monetary incentives.
Aly McDevitt examines Meghan Markle’s tell-all interview with Oprah through the scope of a whistleblower and highlights Burger King’s International Women’s Day Twitter fail as a lesson for companies in assessing social media reputation risks.
For the first time, the SEC has made an award to a whistleblower who provided information that led to a related settlement by another agency—in this case, the Department of Justice.
The Occupational Safety and Health Administration will oversee worker retaliation claims for two new categories of whistleblowers—antitrust and anti-money laundering.
National Holdings has reached a proposed settlement in a lawsuit filed by a former chief compliance officer who alleged she was fired for investigating insider trading by the brokerage firm’s executives, although the firm denies the allegations.
GPB Capital Holdings allegedly defrauded more than 17,000 retail investors in a Ponzi-like scheme, then attempted to impede an employee from blowing the whistle on the illegal practices, according to the SEC.
The Securities and Exchange Commission has announced over $176 million in whistleblower awards in the first four months of the current fiscal year, already more than any other year in its history.
If we fail to improve our collective AML efforts, specialized law firms will offer an inviting incentive to those who blow the whistle on our continued failings, writes Martin Woods.
The Securities and Exchange Commission announced the award of $300,000 to a whistleblower with audit-related responsibilities, a rarity for the program.
Congress’ defense spending bill approved Friday includes amendments that could dramatically alter the fight against money laundering, in addition to a new BSA whistleblower program with some kinks to be worked out.