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BMW Settles SEC Charges That It Misled Investors About Retail Sales Numbers
On September 24, the U.S. Securities and Exchange Commission (SEC) announced settled charges against German auto-manufacturer BMW and two of its U.S. subsidiaries. The SEC charged BMW with disclosing inaccurate and misleading information about retail sales volume in the U.S. ...
SEC Office of the Whistleblower Posts Nineteen New Notices of Covered Actions
On October 30, the U.S. Securities and Exchange Commission (SEC) Office of the Whistleblower posted nineteen new Notices of Covered Actions (NCAs). Each NCA relates to a specific SEC enforcement action and signals that individuals may now submit whistleblower award...
Whistleblower Receives $1.4 Million from New Mexico Corrections Department
The New Mexico Corrections Department has paid a whistleblower $1.4 million to settle a case, according to an October 15 article from The Santa Fe New Mexican. Dr. Bianca McDermott worked at the Corrections Department as the behavioral health bureau chief “for 13...
DOE Contractors Admit Fault and Agree To Pay Over $57 Million To Settle FCA Whistleblower Complaint
On September 22 the United States Attorney’s Office for the Eastern District of Washington announced that a group of major government energy and construction contractors have agreed to pay the government a total of $57,750,000 to settle allegations that the...
HSBC Agrees To Pay $7 Million To Settle Allegations Of Defrauding Public Retirement Fund
Multinational bank HSBC has agreed to pay $7 million to settle whistleblower allegations that they overcharged the California Public Employees Retirement System (CalPERS) when trading to or from foreign currency. According to a September 24 press release from the California...
SEC Publishes Rule Changes to Whistleblower Program; New Deadlines Impact Current Cases
On November 5, the Federal Register published the Whistleblower Program Rule changes for the U.S. Securities and Exchange Commission (SEC) Whistleblower Program. The SEC approved the changes on September 23 in a 3-2 vote by the SEC Commissioners. While the...
European Central Bank Introduces New Whistleblowing Framework
The European Central Bank (ECB) introduced “an enhanced internal whistleblowing framework” that includes a tool for whistleblowers to anonymously report concerns, according to an October 21 press release. The tool can be used for “simple and secure reporting of potential breaches...
Estimation Consulting Firm To Pay $3.13 Million To Settle Overbilling Whistleblower Complaint
A New York-based estimation consulting firm has agreed to pay the government a total of $3.13 million in criminal and civil fees to settle allegations that they violated the False Claims Act. VJ Associates were working for the governments of...
SEC Whistleblower Program Continues Record Start to Fiscal Year With Two New Whistleblower Awards
On November 5, the U.S. Securities and Exchange Commission (SEC) announced two separate whistleblower awards. An award of over $3.6 million was awarded to a whistleblower for providing important information to the SEC on misconduct occurring abroad and for providing...
Bipartisan Bill Would Fund Website That Consolidates Inspector General Reports
Two bills that were recently introduced in both the House and Senate would authorize federal funds to be used for maintaining Oversight.gov, a website that consolidates reports from the 73 Inspectors General (IGs) across the government in order to give...
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