SEC
SEC Posts Notice of Covered Action Regarding Case Against Everest Capital LLC
On June 30, the U.S. Securities and Exchange Commission (SEC) issued a Notice of Covered Action regarding action against the investment adviser Everest Capital LLC (Everest) and its sole principal, Marko Dimitrijevic. The SEC settled charges of misconduct related to...
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...
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...
SEC and DOJ Charges in FCPA Case Prove Bribery Allegations by Greek Whistleblowers
Today, the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ) announced Novartis AG (“Novartis”), a global pharmaceutical and healthcare company based in Switzerland, agreed to pay over $225 million to resolve FCPA charges for bribery...
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”...
SEC Whistleblower Office Pays Largest Reward in Program History
The SEC (Securities Exchange Commission) announced a historic whistleblower award on June 4, 2020. A whistleblower who “provided detailed, firsthand observations of misconduct by a company” will receive “nearly $50 million” for their disclosure. The whistleblower provided accounts of misconduct...
SEC Whistleblower Reports During the Coronavirus Outbreak Rise 35%
On May 12th, Steven Peikin, the co-head of the Securities and Exchange Commission (SEC), gave an online keynote address at the Securities Enhancement Forum West. During his speech, he gave insight into what whistleblowing looks like in the time of...
Company Insider Awarded over $18 Million for Reporting Harm Retail Investors
The U.S. Securities and Exchange Commission (SEC) announced a whistleblower award of over $18 million. The whistleblower’s information led the SEC to a significant enforcement action that returned millions of dollars in losses to retail investors. The whistleblower, a company...
SEC Gives Whistleblower $27 Million in Year’s Largest Award to Date
The Securities and Exchange Commission (SEC) awarded $27 million—the largest award so far this year—to a whistleblower who reported overseas fraud. According to an SEC press release, the whistleblower provided critical investigative leads that advanced the investigation and saved significant...
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