SEC
SEC Pays Whistleblower $2 Million for “Extraordinary” Assistance
Last week, the Securities and Exchange Commission (SEC) announced a whistleblower award of approximately $2 million given to an individual who provided “extraordinary” assistance to an investigation. The whistleblower did so despite facing retaliation and hardships as a result of...
SEC Announces Rare Reward to Internal Compliance Whistleblower
In a rare move, the Securities and Exchange Commission has awarded a corporate compliance official nearly half a million dollars for reporting irregularities within his or her own company. The whistleblower reported the irregularities internally, then alerted the SEC when...
In Memoriam: Judge Stanley Sporkin, the Grandfather of the Foreign Corrupt Practices Act
Stanley Sporkin, who successfully lobbied Congress to pass the Foreign Corrupt Practices Act in 1977, died on Monday at the age of 88. As the Chief Enforcement Officer of the Securities and Exchange Commission (SEC), Sporkin’s investigations into large corporations...
SEC awards whistleblowers more than $2 Million
The Securities and Exchange Commission (SEC) awarded over $2 million to whistleblowers in the past two days, reflecting the strong whistleblower provisions in the Dodd-Frank Act. One whistleblower was awarded more than $1.6 million for providing information leading to a successful enforcement action for violations of securities law. In the award...
Mattel Receives Subpoena after Investigation into Whistleblower Letter Reveals Violation of SEC Rules
In its annual 10-K filing, Mattel Inc. recently revealed that it received a subpoena from the U.S. Securities and Exchange Commission (SEC) regarding a whistleblower letter the toymaker received last August. The company’s auditor received an anonymous letter, which alleged...
SEC Awards Whistleblower $7 Million for Assisting in Investigation
Today, the Securities and Exchange Commission (SEC) announced a whistleblower award of $7 million given to an individual who provided information and assisted in an investigation. The whistleblower award came as the result of a successful enforcement action in which...
SEC reconsidering proposed rules on whistleblower awards?
The chairman of the Securities and Exchange Commission (SEC) said Friday he does not want to put a “cap” on awards to SEC whistleblowers. SEC Chairman Jay Clayton said a provision that would give the SEC discretion over awards of...
Facebook is still auto-generating terror and hate content
On Wednesday morning, the U.S. Senate Committee on Commerce, Science, and Transportation held a hearing on mass violence, extremism, and digital responsibility. The purpose of the hearing was to examine the proliferation of extremism online and examine the effectiveness of social media companies’ efforts to remove violent content from...
Whistle (blowing) while you work
Big companies cooking the books seems to be a theme in the news this week, with the latest accusations coming from a former Disney employee. Sandra Kuba tells MarketWatch she has filed information with the Securities and Exchange Commission alleging the...
Social media execs want terrorist content off their sites. Lawmakers see little progress
Social media executives testified on Wednesday that they are determined to keep terrorist content off their sites, but the members of Congress who summoned them had doubts. The House Committee on Homeland Security heard testimony from representatives of Facebook, Twitter,...
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