Dodd-Frank
Get the latest news, stories, and whistleblower cases involving the Dodd-Frank Wall Street Reform and Consumer Protection Act.
SEC Posts Notice of Covered Action Regarding Case Against Morningstar Credit Ratings
On June 30, the U.S. Securities and Exchange Commission (SEC) posted several new Notices of Covered Action. One Notice refers to a case where the SEC and Morningstar Credit Ratings (Morningstar) settled charges that Morningstar violated conflict of interest rules. ...
U.S. DOJ and SEC Ordered to Review Whistleblower Claim Denial
In May, the U.S. Second Circuit Appeals Court ruled that the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) must review a case in which they denied a whistleblower reward claim. Victor Hong was a risk...
CFTC Posts Notices of Covered Action Regarding Recent Settlements Involving Deutsche Bank
On June 23, the U.S. Commodity Futures Trading Commission (CFTC) posted two Notices of Covered Action regarding the recent settlement of enforcement matters. Deutsche Bank is to pay over $10 million. The Notices of Covered Action signal that individuals may...
Whistleblower Receives SEC Award of $125,000
Today, the Securities and Exchange Commission (SEC) announced that it awarded a whistleblower nearly $125,000. The whistleblower “helped both the SEC and another agency to bring successful actions against the perpetrator of a fraudulent securities offering.” “Whistleblowers like the individual...
Whistleblower Awarded almost $700,000 by SEC Whistleblower Program
The SEC (Securities and Exchange Commission) announced an award of nearly $700,000 to a whistleblower. The whistleblower, who had first reported the issue internally before going to the SEC, assisted the SEC during its investigation. The whistleblower provided “significant information”...
Global Anti-Fraud Professionals Say Whistleblower Suppression Helps Spread Coronavirus
A new survey of anti-fraud professionals from around the world has found that whistleblower suppression is the most significant "fraud-related factor” in the spread of Covid-19. The anti-fraud consulting firm Nemexis surveyed anti-fraud professionals in 58 countries over two weeks...
SEC Tackles Coronavirus Frauds
In a major breakthrough protecting the public from coronavirus fraudsters, the U.S. Securities and Exchange Commission announced that it opened numerous investigations into companies (including small companies that sell “microcap” stocks at low prices) suspected of engaging in fraudulent promotions...
SEC Awards $5 Million to Whistleblower Who Suffered Workplace Retaliation
The Securities and Exchange Commission (SEC) issued an award of $5 million to a whistleblower who suffered retaliation in the workplace as a result of their disclosures. According to the SEC award determination order, the whistleblower provided information leading SEC...
CFTC Pays Award to Commodities Fraud Whistleblower
Today, the U.S. Commodity Futures Trading Commission (CFTC) approved a whistleblower award to an individual who “voluntarily provided original information... .that led to successful enforcement action” under the Commodity Exchange Act. The order from the CFTC said the whistleblower’s information was specific,...
CFTC Warns of Increased Commodities Fraud Due to Coronavirus Pandemic
The U.S. Commodity Futures Trading Commission (CFTC) has issued a warning to the public of possible fee scams and “get rich quick” schemes that aim to prey on the fallout from the coronavirus pandemic. According to the CFTC, fraudsters who...
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