Earlier this week the US Securities & Exchange Commission released its 2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program. You can access the report at http://www.sec.gov/about/offices/owb/annual-report-2014.pdf. Highlights of the report include:A steady rise in the number of whistleblower tips per year – 334 in FY2011, 3,001 in FY2012, 3,328 in FY2013 and 3,620 in FY2014 Its first anti-retaliation case brought on June 16, 2014 against Paradigm Capital Management resulting in a $2.2MM settlement Corporate Disclosures & Financials, Offering... Read Full Article >
Following the Dodd-Frank Wall Street Reform and Consumer Protection Act, whistleblower lawsuits are on the rise. The Securities and Exchange Commission now has an Office of the Whistleblower, including a special section for whistleblowing about Residential Mortgage Backed Securities, which has been giving out multi-million dollar awards to people who have exposed securities-related fraud. The Commodity Futures Trading Commission (CFTC) has a whistleblower program, as does the Occupational Safety and Health Administration (OSHA) and the Internal Revenue Service.
This is all...Read Full Article >