Tag: Whistleblowers
SEC Announces FY23 Enforcement Results –Record-Breaking Whistleblower Awards, Focus on Individual Accountability, Self-Reporting, and Cooperation Credit
The Securities and Exchange Commission (SEC) recently announced its enforcement results for fiscal year 2023, which reported a total of 784 enforcement actions, up 3% from FY22. This includes 501 original (stand-alone) enforcement actions, an 8% increase from last year. The SEC also barred 133 individuals from serving as officers and […]
When the Whistle Blows, Listen Carefully – and Consider Self-Disclosure
On February 22, 2023, the US Department of Justice announced a new voluntary self-disclosure policy for corporate criminal enforcement in US attorney’s offices nationwide. The policy offers concrete and meaningful incentives – including significant discounts on fines and not guilty plea resolutions – for corporations that meet the criteria for […]
Whistleblower Complaints and Rewards Explode Worldwide
What you need to know Since the onset of the COVID-19 pandemic, the number of whistleblower complaints received by regulators has exploded on both sides of the Atlantic. On November 15, 2021, the US Securities and Exchange Commission (SEC) reported that it paid out more in whistleblower awards in fiscal […]
DOJ Increases Efforts to Combat Cyber Breaches by Targeting Government Contractors
The US Department of Justice is increasing its arsenal to pursue cyber-related fraud by government contractors and grant recipients. The program, called the “Civil Cyber-Fraud Initiative,” was announced by Deputy Attorney General Lisa Monaco on Wednesday. The initiative – along with other recent steps taken by the federal government – […]
Early SEC Enforcement Trends from Chairman Gary Gensler’s First 100 Days
Gary Gensler was sworn in as chair of the Securities and Exchange Commission on April 17, 2021. Chairman Gensler has promised to strengthen transparency and accountability in the financial markets. Under Chairman Gensler, we expect the SEC’s Division of Enforcement – led by Gurbir Grewal, who began work at the agency on July 26 – […]
What You Need to Know About Potential Exposure if You’ve Gotten a CARES Act Loan
We have previously looked at the many ways CARES Act funding can provide critical sources of money for both small and large businesses. We also have described the oversight bodies created by the CARES Act to police the use of disbursed funds. For many businesses, small or large, this may be the first […]
Remaining Vigilant to Compliance and Enforcement Concerns in Times of Crisis
In times of increased financial stress—and particularly during times of financial shock where expectations and reality diverge significantly and rapidly—internal and external pressures can lead to risk-taking with lasting consequences. For example, pressure often mounts to boost revenue to save a failing quarter, to take advantage of government bailout opportunities, […]
UK Government responds to International Development Committee’s Fourth Report 2016/2017
In October 2016, the International Development Committee put forward 13 recommendations for the improvement of the UK Government efforts to tackle overseas corruption. Last month the UK Government published its response. The Government agreed with seven recommendations: assess the extent of money laundered through the UK and continue to lobbying […]