- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-03-07T21:07:00
Deputy Attorney General Lisa Monaco said the Department of Justice will look to fill gaps in its whistleblower procedures with the launch of a 90-day sprint toward a DOJ-led pilot whistleblower reward program.
In remarks delivered at an industry event Thursday, Monaco said whistleblower programs at the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission don’t address the full range of corporate and financial misconduct that the DOJ prosecutes.
Both programs are “limited in scope” to agency jurisdiction under the Dodd-Frank Act, Monaco said, while the qui tam provisions of the False Claims Act only cover fraud against the government.
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Medical device manufacturer Innovasis and two of its top executives agreed to pay a total of $12 million to settle allegations originally brought by a whistleblower that they paid kickbacks to physicians.
The Department of Justice is set to join a growing list of U.S. federal agencies to have a whistleblower reward program in place, but how impactful it will be at generating more white-collar investigations and prosecutions rides on its initial design, according to experts.
Economic data and research firm Argus Information and Advisory Services agreed to pay $37 million to settle charges from the Department of Justice alleging misuse of data obtained through federal regulatory contracts.
The Consumer Financial Protection Bureau is warning companies against intimidating potential whistleblowers by forcing them to sign broad nondisclosure agreements to deter misconduct from coming to light.
A whistleblower will be paid $37 million by the Securities and Exchange Commission for providing original, credible information that led to a successful enforcement action.
Anonymous employees of OpenAI accused the company of requiring employees to sign nondisclosure agreements (NDAs) that “prohibited and discouraged” them from reporting securities law violations to federal regulators.
