By Steve Kardell | Published December 22, 2022 | Posted in Whistleblower Litigation | Tagged Tags: SEC, SEC whistleblower awards, Securities and Exchange Commission |
SEC Fixes Flawed Provision in Whistleblower Rule
Investment and public interest groups applaud recent changes in Securities and Exchange Commission (SEC) rules. After previous efforts to weaken these rules, the SEC restored the regulations to better award whistleblowers and protect investors. An effective approach The whistleblower rule dates back to 2011. They awarded over $1 billion to whistleblowers who revealed insider trading Read More
Read MoreSEC Considering Return to 30 Percent Awards for Corporate Whistleblowers
The U.S. Securities and Exchange Commission (SEC) recently proposed some changes to its whistleblower program that could potentially affect compensation received by whistleblowers through the program. Under the current rules, whistleblowers can perceive anywhere from 10 to 30 percent of penalties the SEC collects when the penalties in the case exceed $1 million. However, the Read More
Read MoreSEC Considers Changes to Rules of its Whistleblower Program
On February 10, the U.S. Securities and Exchange Commission announced a pair of proposed changes to some of the rules that govern the agency’s successful whistleblower program. The proposed amendments are to Exchange Act Rules 21F-3 and 6. If the amendments were to be adopted, they would ensure whistleblowers are more appropriately rewarded for their Read More
Read MoreEarly January SEC Whistleblower Awards Total More than $1.1 Million
On Thursday, January 7, The U.S. Securities and Exchange Commission (SEC) announced three whistleblower awards to five recipients that totaled more than $1.1 million. According to a statement released by the agency, each of the whistleblowers provided high-quality, unique information that led to multiple enforcement actions. The first award totaled approximately $500,000 and went to Read More
Read MoreSEC Announces Pair of New Whistleblower Awards
The U.S. Securities and Exchange Commission (SEC) announced a pair of new whistleblower awards at the start of November, both going to individuals who assisted the commission with their investigations into ongoing fraudulent schemes. The first whistleblower received $3.6 million for their assistance. The SEC said this whistleblower alerted the agency to overseas misconduct and Read More
Read MoreSEC Issues $3.8 Million Whistleblower Award in Fraud Case
In July, the U.S. Securities and Exchange Commission (SEC) issued a $3.8 million award to a whistleblower who assisted the commission by providing crucial information during an ongoing investigation into a fraudulent scheme. According to the press release the SEC put out to announce the award, the whistleblower provided the agency with information that “helped Read More
Read MoreVereit Settles SEC Fraud Case to Tune of $8 Million
The United States Securities and Exchange Commission (SEC) recently charged Vereit, Inc. (previously known as American Realty Capital Properties, Inc.) with intentionally overstating important performance metrics, a form of fraud. As a result, Vereit agreed to settle the charges by paying an $8 million penalty, which will be shared among defrauded investors. Case background According Read More
Read MoreWhistleblower Claims Wall Street Has Been Routinely Manipulating Mortgage Funds
A whistleblower claims there is evidence to believe Wall Street is once again engaged in some of the very practices that led to the financial crash of 2008. A whistleblower complaint submitted last year to the Securities and exchange Commission accuses some of the largest banks in the world (including Deutsche Bank and Wells Fargo) Read More
Read MoreSEC Confirms $50 Million Paid to Whistleblowers in 2017
The U.S. Securities and Exchange Commission (SEC) Office of the Whistleblower released its annual report in mid-November. It highlighted the value whistleblowers have provided to the agency and the country over the past year. According to the commission, “whistleblowers have provided tremendous value to [the SEC’s] enforcement efforts and significantly helped investors.” The agency noted Read More
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