August 19, 2015
BNY Mellon settlement of FCPA case shows that foreign bribery involves more than cash payouts
Following the Bank of New York Mellon’s settlement with the SEC this week, expect to see more Wall Street banks settle foreign bribery allegations involving the practice of hiring relatives of sovereign...
August 14, 2015
SEC takes action to clean up municipal bond underwriting
The Securities and Exchange Commission (SEC) took a major step this week with its efforts to clean up municipal bond underwriting with the announcement of a $20 million settlement with brokerage firm Edward...
May 06, 2015
SEC Chair White strongly endorses whistleblower program
Securities and Exchange Commission Chair Mary Jo White gave an important speech about whistleblowers last week, saying the SEC whistleblower program has “proven to be a game changer.” The SEC whistleblower...
November 21, 2014
SEC whistleblower program continues to grow
The Securities and Exchange Commission received a record number of tips under its whistleblower-reward program in fiscal year 2014, with more than 3,600 tips from all 50 states, Washington, DC and Puerto...
October 01, 2013
SEC makes good on promise for large whistleblower reward soon
The Securities and Exchange Commission (SEC) announced today that it has awarded $14 million to a whistleblower for information and assistance. This is the largest SEC whistleblower reward so far under...
September 27, 2013
JP Morgan settlement criticized
The Securities and Exchange Commission settlement of a case against JPMorgan without charging any top executives, was heavily criticized by Jesse Eisinger, a finance reporter for ProPublica in a New York...
February 05, 2013
Whistleblower attorney finds tone at top of SEC and CFTC encouraging for whistleblowers
The whistleblower programs at the Securities and Exchange Commission and the Commodity Futures Trading Commission are working “incredibly well,” according to Phillips and Cohen partner Erika Kelton....
January 17, 2013
Payments to settle fraud charges shouldn’t be tax deductible
Several banks that recently settled cases for mortgage abuses will be able to deduct those settlement payments as “business expenses,” making those settlements less painful for the banks than they...
November 16, 2012
SEC received 3,000 whistleblower tips in the past year.
In the past year, the Securities and Exchange Commission (SEC) received over 3,000 whistleblower tips, according to the SEC’s 2012 “Annual Report on the Dodd-Frank Whistleblower Program” released...
August 23, 2012
SEC’s new whistleblower program gets big response
Since Congress created a strong whistleblower program at the Securities and Exchange Commission under the Dodd-Frank Act in July of 2010, tips have been pouring into the SEC in record numbers, according...