SEC
SEC Examining Whistleblower Complaint Regarding Rio Tinto’s $6.8 Billion Copper Mining Project
The U.S. Securities and Exchange Commission (SEC) is looking into claims made by a whistleblower concerning international mining conglomerate Rio Tinto. According to reporting by the Financial Times, the SEC has not announced an investigation. They are examining allegations that Rio Tinto...
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SEC to Vote on Controversial Changes to Whistleblower Program on September 23
The U.S. Securities and Exchange Commission (SEC) is scheduled to meet at 9 a.m. on September 23 to vote on proposed amendments to its highly successful whistleblower program. Whistleblower advocates warn that, if approved as originally written, a number of...
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VALIC Financial Advisors Pay SEC $40 Million to Settle Charges in Two Separate Actions
On July 28, the U.S. Securities and Exchange Commission (SEC) charged VALIC Financial Advisors Inc. (VFA) in two separate actions that were both related to VFA’s failures to disclose practices that generated millions of dollars in fees and other financial...
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SEC Orders Telegram Group To Return $1.2 Billion to Investors Following Unregistered Offering of Digital Tokens
On July 31, the U.S. Securities and Exchange Commission (SEC) announced that it obtained court approval of settlements with Telegram Group Inc. (Telegram) and its wholly-owned subsidiary, TON Issuer Inc. The SEC charged Telegram with violating federal securities laws in...
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Leading Whistleblower Attorney Argues Against Proposed “Soft Cap” to SEC Whistleblower Awards
The U.S. Securities and Exchange Commission (SEC) postponed its vote on controversial changes to the highly successful whistleblower program. Whistleblower advocates have warned that some of the proposed changes, including removing protections for internal whistleblowers and instituting a strict requirement...
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Investment Advisory Firm and Former CEO Ordered to Pay SEC Over $2 Million
On July 1, the U.S. Securities and Exchange Commission (SEC) announced that the U.S. District Court for the District of Connecticut entered final judgments against Connecticut investment advisory firm Temenos Advisory, Inc. and its former chief executive officer, George Taylor. ...
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Japan Amends Whistleblower Protection Act
This summer, Japan passed amendments to its Whistleblower Protection Act to broaden the scope of whistleblower protections and ensure proper whistleblower systems within businesses. However, the amendments fail to address retaliation concerns and do not institute a whistleblower rewards program....
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Whistleblower Attorney Warns Proposed “Soft Cap” on SEC Whistleblower Awards Could Undermine Whistleblower Program’s Deterrent Effect
The U.S. Securities and Exchange Commission (SEC) will soon vote on proposed amendments to the agency’s highly successful whistleblower program. The most controversial of these amendments involve the institution of a “soft cap” that would allow the SEC to reduce...
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SEC Cancels Vote on Proposed Changes to Whistleblower Program
Today, the U.S. Securities and Exchange Commission (SEC) cancelled a scheduled vote on proposed changes to the agency’s whistleblower reward program. The vote was scheduled to take place at 9 a.m. on September 2. This is the second time a...
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SEC to Vote on Controversial Amendments to Whistleblower Program
The U.S. Securities and Exchange Commission (SEC) is scheduled to meet at 9 a.m. on September 2 to vote on proposed changes to the agency’s highly successful whistleblower program. Whistleblower advocates warn that, if approved as originally written, the proposed...
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