The position that a whistleblower holds when they report fraud or some other unlawful conduct can have a significant impact on their eligibility for a whistleblower reward. It is critical to assess this issue early on because it can make the difference between qualifying for an award or being deemed ineligible for an award. For example, a compliance officer who immediately reports a securities law violation to the Securities and Exchange Commission (SEC) may not qualify for an award, but if they report the violation internally and then wait 120 days to report it to the SEC, they could qualify for an award. And in some jurisdictions, the position or job duties of the whistleblower can trigger a heightened notice requirement.
By assessing early on the impact of a whistleblower’s position or job duties on their eligibility for a potential award and for whistleblower protection, counsel can enable the whistleblower to develop an effective strategy to maximize their recovery and enhance their ability to combat retaliation.
Under the Dodd-Frank Act there are restrictions on eligibility for a whistleblower reward based on job duties, some of which are categorical, and others which are subject to their own exceptions. The statute categorically bars the SEC from paying an award to any whistleblower who acquired the information that they submitted to the SEC through their work as a member, officer, or employee of an appropriate...
Iran Parliament's speaker Mohammad Bagher Ghalibaf on Friday sharply criticised US President Donald Trump, accusing him of making false claims about the ongoing standoff between Washington and Teh...