The U.S. Securities and Exchange Commission (SEC) recently awarded approximately $36 million to a whistleblower who was culpable in the wrongful conduct and delayed reporting information to the agency for five years. The award is among the Top 10 awards ever issued by the SEC. Nor is the SEC alone in pushing the limits of whistleblower awards: the U.S. Commodity Futures Trading Commission (CFTC) recently issued its largest award ever—a $200 million payment—which was also awarded to an imperfect whistleblower. These recent awards break new ground and should spur companies to update their internal compliance programs. Companies should also keep an eye on the nascent Department of Treasury's Financial Crimes Enforcement Network (FinCEN) whistleblower program, which is still being fleshed out and will resemble the programs under the SEC and CFTC—but perhaps with some key differences.
The SEC recently awarded approximately $36 million to a whistleblower who was culpable in the wrongful conduct and delayed reporting information to the agency for five years. Even with a reduction applied for the whistleblower's culpability, this award is so large that it falls within the Top 10 awards ever issued by the SEC. And the SEC is not alone in pushing the limits of whistleblower awards. The CFTC recently issued its largest award ever—$200 million, also to...
Rep. Eric Swalwell on Friday forcefully denied allegations of sexual assault and misconduct, saying in a public statement and a video posted to social media that the claims are false and politicall...