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Australia Joint Committee Recommends More Helpful Whistleblower Protections

One Step Closer for Whistleblower Protections in Australia Australia appears to have moved one step closer to adopting whistleblower rewards and additional retaliation protections with a report last month by the Parliamentary Joint Committee on Corporations and Financial Services. The report’s main recommendation is for Australia to establish a Whistleblower Protection Authority to support whistleblowers,...

Closeup of Chain, representing bribery investigation

Telia Settles FCPA Bribery Investigation for $965 Million

Bribery Investigation Settled for Almost $1 Billion The United States has concluded its third-largest FCPA enforcement action with a settlement of $965 million in total penalties (including Dutch and Swedish penalties) by Telia Company AB and its subsidiary, Coscom. The Acting U.S. Attorney of the Southern District of New York called it “one of the...

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IRS Clarifies 6103(n) Whistleblower Contracts

Whistleblower Contracts Clarified by IRS Earlier this year, the IRS Whistleblower Office and its Director Lee Martin issued guidelines for the use of 6103(n) contracts with tax whistleblowers. This has been a somewhat controversial area in the past, since it requires balancing the privacy rights of the taxpayer. In favor of more IRS-whistleblower communication, Senator...

Selective Focus Photography of Wheat Field, representing Commodities for the CFTC and the CFTC Whistleblower Program

Recap of Expansive CFTC Whistleblower Program in FY 2017

2017’s CFTC Whistleblower Program We are approaching the end of the U.S. Government’s 2017 fiscal year on September 30th. We haven’t written too much about the CFTC whistleblower program this year because there have only been a handful of newsworthy events in the enforcement of the Commodity Exchange Act. However, after reading the news stories...

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CFTC’s New Self-Reporting Program Recently Unveiled on Sep. 26, 2017

CFTC’s Self-Reporting Program Now Available The CFTC’s (Commodity Futures Trading Commissions) Director of Enforcement unveiled a new program this week to promote self-reporting of violations of the Commodity Exchange Act or CFTC Rules in the financial industry. According to James McDonald, it will provide a significantly reduced penalty for companies and individuals that self-report and...

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U.S. Takes on Despicable Disaster Relief Fraud and ICO Fraud

Disaster Relief Fraud and ICO Fraud Making Headlines Disaster relief fraud and Initial Coin Offering (ICO) fraud are two areas that have been making headlines recently. Based on communications reported in the media from government agencies, both areas will be the subject of government scrutiny in the next few years. With regard to disaster fraud,...

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Whistleblowers Help U.S. Recover Higher Penalties

Whistleblowers Are a Big Help A recently publicized April 2017 research study has concluded that whistleblower involvement in enforcement actions related to financial misrepresentations results in higher monetary penalties for the U.S. as well as longer prison sentences in criminal actions. The study examined financial misrepresentation enforcement actions brought by the Securities and Exchange Commission...

Gold bar lot, referring to Precious Metals Fraud

Precious Metals Fraud Takes Customers for $290 Million

Precious Metals Fraud Affecting Thousands of Retail Customers The Commodity Futures Trading Commission (CFTC) has filed an enforcement action against one of the largest precious metals fraud cases in its history. In light of that action, we thought it important to remind victims and industry professionals about the CFTC whistleblower program, which offers rewards for...

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SEC Chief Says Cybersecurity is a Top Priority

SEC Chair Says Cybersecurity is a Top Priority SEC Chair Jay Clayton declared cybersecurity one of the top enforcement issues at the securities regulator on Tuesday, according to a Reuters article. In line with this comment, we expect that there will be an uptick in the number of rewards to whistleblowers who report cyber security...

Assortment of pills in news article at Young Law Group website. Also representing REMS

False Claims Act Lawsuits over REMS Safety Education

REMS Program Results in FCA Lawsuits After a number of whistleblower lawsuits under the False Claims Act, Novo Nordisk will pay approximately $59 million to settle allegations that it minimized the cancer risk of Victoza, a diabetes medication, after the FDA required it to provide safety communications pursuant to a Risk Evaluation and Mitigation Strategies...

Category: News