SEC Whistleblower Reward Program Archives - Page 31 of 36

SEC Awards Whistleblower $3.5 Million For “Bolstering On-Going Investigation”

Posted 05/17/16

On Friday, May 13^th, the SEC made an award of more than $3.5 million to a whistleblower the agency described as a “company employee whose tip bolstered an ongoing investigation with additional evidence of wrongdoing that strengthened the SEC’s case.” The SEC’s whistleblower program explicitly provides for financial rewards not only to those whose information prompts an investigation, but also to those...

Tagged in: Public Disclosure and Public Information, SEC Whistleblower Reward Program, Whistleblower Rewards,

In Their Own Words — Ceresney

Posted 05/16/16

-- “Whistleblowers can receive an award not only when their tip initiates an investigation, but also when they provide new information or documentation that advances an existing inquiry. This particular whistleblower’s tip substantially strengthened our ongoing case and increased our leverage during settlement negotiations with the company.”

Andrew Ceresney, Director of the SEC’s Division of Enforcement,...

Tagged in: In Their Own Words, SEC Whistleblower Reward Program,

$2 Million SEC Whistleblower Award To Be Split Among Three Whistleblowers — But The First To The Commission Gets The Most

Posted 03/10/16

The SEC has announced that its most recent whistleblower award, of almost $2 million, will be split among three whistleblowers — but not evenly. The first whistleblower, identified only as “Claimant 1,” will receive about $1.8 million. The other two whistleblowers will share about $130,000. The SEC whistleblower program was inspired by, and roughly based on, The False Claims Act (FCA), oft-described...

Tagged in: Anonymity, Multiple Whistleblowers and First-to-File, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Case, Whistleblower Rewards,

Whistleblower hits big with SEC’s $80 million settlement over Monsanto’s “ultimate killing machine”

Posted 02/12/16

Only a day after the SEC announced that agro-giant Monsanto would pay an $80 million penalty to settle charges of accounting improprieties in connection with sales of its flagship product Roundup, attorney Stuart Meissner has said that he represents the whistleblower who brought the matter to the SEC’s attention. If true, under the rules governing the SEC’s whistleblower program, Mr. Meissner’s client...

Tagged in: Accounting Fraud, Misrepresentations, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Case,

Newly Released Government Accountability Project White Paper Responds To Security And Exchange Commission Rulings Penalizing Whistleblowers For Delay In Disclosing Corporate Fraud

Posted 02/3/16

By Jessica T. Moore Seemingly unexplained and arbitrary SEC rulings reducing whistleblower awards due to reporting “delays” have troubled those who work to expose fraud against investors. See The Hill, SEC whistleblowers be warned, don’t delay in reporting fraud. Now, an in-depth study from the Government Accountability Project details why such delays may occur. The goals of the paper, Why...

Tagged in: Reporting to Government, SEC Whistleblower Reward Program,

January 15, 2016

The SEC awards more than $700,000 to a whistleblower described as a “company outsider.” The SEC says that the whistleblower provided a “detailed analysis” of the wrongdoing that lead to a successful SEC enforcement action. SEC

Tagged in: Anonymity, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Case, Whistleblower Eligibility, Whistleblower Rewards,

November 4, 2015

The SEC announced a whistleblower award totaling more than $325,000 for a former investment firm employee who tipped the agency with specific information that enabled enforcement staff to open an investigation and uncover the extent of the fraudulent activity. The whistleblower waited until after leaving the firm to come forward to the SEC, however, and agency officials say the award could have been higher had this whistleblower not hesitated. SEC

Tagged in: SEC Whistleblower Reward Program, Whistleblower Case, Whistleblower Rewards,

July 17, 2015

The SEC paid more than $3 million to a whistleblower whose “specific and detailed information comprehensively laid out the fraudulent scheme which otherwise would have been very difficult for investigators to detect.” SEC

Tagged in: SEC Whistleblower Reward Program, Whistleblower Case, Whistleblower Rewards,

April 28, 2015

The SEC awarded $600,000 to a whistleblower who suffered “unique hardships, including retaliation” as a result of blowing the whistle on misconduct at hedge fund advisory firm Paradigm Capital Management. It is the first time the SEC has made an award to a whistleblower in a retaliation case. Whistleblower Insider

Tagged in: Retaliation, SEC Whistleblower Reward Program, Whistleblower Case, Whistleblower Rewards,

April 22, 2015

The SEC announced a whistleblower award of roughly $1.5 million to a compliance officer who had a reasonable basis to believe that disclosure to the SEC was necessary to prevent imminent misconduct from causing substantial financial harm to the company or investors. This is the second award the SEC has made to an employee with internal audit or compliance responsibilities. Whistleblower Insider

Tagged in: SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Case, Whistleblower Eligibility, Whistleblower Rewards,

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SEC Whistleblower Reward Program

SEC Awards Whistleblower $3.5 Million For “Bolstering On-Going Investigation”

In Their Own Words — Ceresney

$2 Million SEC Whistleblower Award To Be Split Among Three Whistleblowers — But The First To The Commission Gets The Most

Whistleblower hits big with SEC’s $80 million settlement over Monsanto’s “ultimate killing machine”

Newly Released Government Accountability Project White Paper Responds To Security And Exchange Commission Rulings Penalizing Whistleblowers For Delay In Disclosing Corporate Fraud

January 15, 2016

November 4, 2015

July 17, 2015

April 28, 2015

April 22, 2015

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