First FCPA Whistleblower Award Revealed
An Australian newspaper over the weekend reported the payment of a reward by the U.S. Securities and Exchange Commission to an SEC whistleblower concerning information
SEC Fines Company Over Severance Agreements Violations
Another publicly traded company has been reprimanded by the Securities and Exchange Commission for attempting to thwart its whistleblower program. This time it is BlueLinx
Tax Court Says IRS Whistleblowers Get Rewards on Criminal Fines
Criminal fines and civil forfeitures are collected proceeds under Internal Revenue Code section 7623(b), the mandatory tax whistleblower program, according to a recent decision by
Embraer Settlement Progress; Rolls Royce Investigation Update
Summer may be a slow time on the stock market but we’re getting a steady stream of bribery news with just two months left in
State Street to Pay Gov’t $382 Million Over Hidden FX Markups
Hidden costs imposed by banks on trading clients are at issue again today with the Securities and Exchange Commission announcing a $382.4 million settlement with
Tuomey Doesn’t Justify Stark Law Revisions
I spent some time yesterday reviewing the testimony before the Senate Finance Committee a few weeks ago by health care providers and other organizations regarding
LATAM Pays $22 Million under FCPA
The largest airline in Latin America, Chile-based LATAM Airlines Group, has agreed to pay $22 million to resolve investigations by the Department of Justice and
CFTC Issues Fourth Whistleblower Bounty of $50,000
The U.S. Commodity Futures Trading Commission has issued its third award in the last year and fourth overall to CFTC whistleblowers pursuant to the terms
SEC Boosts AML BSA Enforcement with SARs Action
A piece of news about Vincente Martinez leaving the SEC alerted us to the first SEC enforcement action of the Bank Secrecy Act against a
Increased Spending in Compounded Drugs Could Involve Fraud
Federal spending for compounded drugs has exploded recently and there are concerns some portion of the increase is due to fraud or overbilling, according to
Ethics Code Now Guides Accountant Whistleblowers
The International Ethics Standards Board for Accountants (IESBA) has revised the Code of Ethics for Professional Accountants to address ethical concerns about how to handle
Johnson Controls, Analogics Settle FCPA Investigations
We have now seen our second Foreign Corrupt Practices Act settlement involving vendor payments over the past three weeks as Johnson Controls settled its SEC investigation for
IRS Targets Big Business for Inbound Distributions, Basket Options, Captive Insurance and Asset Transfers
Almost a year ago (September 2015), the Internal Revenue Service announced the reorganization of its Large Business and International (LB&I) Division. Struggling to keep up
Fourth Circuit to Weigh-In on Statistical Sampling and the Government’s Veto Power in False Claims Act Cases.
Government’s Veto Power The Fourth Circuit in U.S. ex rel. Michaels v. Agape Senior Community (Agape) has been asked to decide two important issues in False
Higher CFTC Fines Proposed in Derivatives Protection Act
Senator Warren and two other Congressional members proposed the Derivatives Oversight and Taxpayer Protection Act into Congress at the end of June in order to
International Support for Whistleblowers Growing
Governments across the world continue to recognize the importance of whistleblowers with agencies in Germany and Canada opening up whistleblower programs to collect information about
DOJ Doubles FCA Statutory Penalties
The statutory penalties for each false claim or false statement will nearly double as the U.S. Government adjusts the False Claims Act fines for inflation. Under the Civil Monetary
Whistleblowers Help Secure $415M Merrill Lynch Settlement
The Customer Protection Rule was the subject of a $415 million settlement last week by Bank of America’s Merrill Lynch. It was the largest ever