Five Travel Expense Related FCPA Violations

Here's a tip for potential Foreign Corrupt Practices Act whistleblowers: travel expenses clearly fall within FCPA guidelines. A FCPA whistleblower is often an employee or insider who often times assumes incorrectly that a bribe only constitutes a violation of the FCPA if actual cash changes...

SEC Whistleblowers can Help Uncover "Soft Dollar" Practices

Hedge fund operators (politely called "Investment Managers" on Wall Street) can make the plaintiffs' bar look like expensively dressed social workers. The hedge fund industry is estimated to be a $2.5 trillion industry . Potential hedge fund whistleblowers should know that the SEC and...

The ERC on Whistle Blowing Workplace Misconduct: Attitude Matters

In December 2010, the Ethics Resource Center (ERC) released a White Paper entitled, " Blowing the Whistle on Workplace Misconduct ." This White Paper report detailed several findings that the ERC had determined through surveys, interviews and dialogues. Although the article reviewed types...

SEC’s Whistleblower Annual Report

Dodd-Frank added Exchange Act Section 21F(g)(5) and requires that SEC's Office of the Whistleblower to report to Congress annually on the whistleblower program. It's due each October 30. I'm sure the SEC wanted to be in compliance, so they released the first annual report on the Dodd...

Morrison, Whistleblowers And Limits On Federal Authority

The fundamental question in National Federation of Independent Business v. Sebelius, Secretary of HHS, No. 11-393 (S.Ct. June 28, 2012), which addressed the constitutionality of the Affordable Care Act, was the scope of federal power within the United States. There the Court fashioned new limits on the...

How Corporate Officials Can Get A Good Night’s Sleep Despite Current SEC Enforcement Trends - The Conclusion

This is the last three parts of an eight part series discussing new trends in SEC enforcement which impact corporate directors and officers and steps that can be taken to avoid future liability. While increasing corporate fines is a hallmark of the aggressive posture of FCPA enforcement officials...

Fulbright's 9th Annual Litigation Trends Survey: Litigation Bounces Back; Regulation Hits High

Companies in the United States and United Kingdom dealt with more litigation while regulatory investigations reached a five-year high, according to Fulbright's 9 th Annual Litigation Trends Survey . After a one-year decline, litigation rose to 2010 levels as businesses on both sides of the...

SEC Implements the “Bad Actor” Disqualification Provisions of Dodd-Frank

Previously, I summarized the Securities and Exchange Commission’s implementing regulations of Title II of the JOBS Act , lifting the ban on general solicitation for offerings exempt under Rule 506 of Regulation D, which were finalized on July 10, 2013. At the same meeting, the SEC also finalized...

Has the Whistleblower Moment Arrived? SEC Awards Whistleblower More Than $14 Million

It is not the first whistleblower award under the Dodd Frank Act’s whistleblower bounty program but the “more than $14 million” award to an anonymous whistleblower that the SEC announced on October 1, 2013 is by far the largest so far. The size of the award raises the question of what...

Whistleblower Report Follow-On Securities Suit: We'll Be Seeing More of These

On October 30, 2013, the SEC announced another whistleblower bounty award under the Dodd-Frank whistleblower program. Although the size of this latest award ($150,000) is relatively modest compared to the recent $14 million award (about which refer here ), the most recent award does suggest that awards...

SEC: Number of Whistleblower Reports Continues to Increase

The number of whistleblower reports to the SEC increased again in the latest fiscal year, according to the annual report of the SEC whistleblower office. The report, which the SEC is required by the Dodd-Frank Act to provide to Congress annually, is entitled the “2014 Annual Report to Congress...