The Securities and Exchange Commission (SEC) has proposed for public comment several amendments to the SEC’s rules implementing its whistleblower program. The whistleblower provisions of the Securities Exchange Act of 1934 (Exchange Act) provides, among other things, that the SEC shall pay an award to eligible whistleblowers who voluntarily provide the SEC with original information … Continue reading SEC Proposes Amendments to Whistleblower Rule
The Securities and Exchange Commission (SEC) is including enforcement of the Whistleblower provisions enabled by Frank Dodd in its exam program, and as such is directly impacting broker/dealers and investment advisers. To that end, whistleblower issues have recently arisen in SEC exams of investment advisers. In those exams, confidentiality agreements, registered representative and Investment adviser … Continue reading SEC Whistleblower Program Impacts Exam Program
The U.S. Securities and Exchange Commission (“SEC”) has recently announced whistleblower awards to four individuals who provided the SEC with information in three ongoing investigations. The SEC announced on May 13, 2016 that it had awarded $3.5 million dollars to a company employee whose tip bolstered an ongoing investigation with additional evidence of wrongdoing that strengthened the … Continue reading Three Whistleblower Awards Issued By SEC
The Securities and Exchange Commission (“SEC”) announced a whistleblower award of more than $3 million to a company insider whose information helped the SEC crack a complex fraud. The multi-million dollar payout is the third highest award to date under the SEC’s whistleblower program. The SEC noted that the whistleblower’s specific and detailed information comprehensively … Continue reading SEC Awards Whistleblower Over $3 Million Award