A recent decision from the 9th Circuit has served to widen the circuit split over whether Dodd-Frank’s anti-retaliation protections should protect internal whistleblowers. In early March, a split 9th Circuit panel found in favor of extending Dodd-Frank’s anti-retaliation protections to…
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Dodd-Frank Act, Retaliation, Whistleblower, Whistleblower protection
Earlier this week, the SEC announced a more than $20 million whistleblower award “to a whistleblower who promptly came forward with valuable information that enabled the SEC to move quickly and initiate an enforcement action against wrongdoers before they could…
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Dodd-Frank Act, SEC, Securities and Exchange Commission, Whistleblower, Whistleblower award
In a recent decision from the Eighth Circuit Court of Appeals, future potential whistleblowers alleging retaliation claims under the Sarbanes-Oxley Act (“SOX”) may have found an easier path to proceed with their claims. The Eighth Circuit’s opinion in Beacom v….
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In May 2016 alone, the Securities and Exchange Commission (“SEC”) paid approximately $10 million in whistleblower awards. These frequent and ever-increasing awards should serve as a stern notice to in-house counsel and compliance personnel alike that SEC whistleblower awards may…
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Dodd-Frank Act, Sarbanes-Oxley, SEC, Securities and Exchange Commission
Until recently, the U.S. Commodity Futures Trading Commission’s (“CFTC”) Dodd-Frank Whistleblower Program had only paid out two whistleblower awards, totaling $530,000 ($290,000 and $240,000, respectively), over the entire life of the program. However, that changed significantly when the CFTC announced…
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CFTC Whistleblower Program, Dodd-Frank Act, IRS, IRS Tax Whistleblower Program, SEC, Securities and Exchange Commission, Whistleblower, Whistleblower award, Whistleblower protection, workplace retaliation
Whistleblower awards for those reporting an employer’s underpayments to the Internal Revenue Service’s (“IRS”) Tax Whistleblower Program can be quite significant. In fact, one tax whistleblower received a $104 million award from the IRS in 2012 for disclosing Swiss tax…
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As initially reported by Reuters, a former vice president of Viacom, Inc. has sued the media giant claiming that she was fired in retaliation for her opposition to Viacom’s alleged Ninja Turtles tax fraud plan, which involved illegally avoiding paying…
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Dodd-Frank Act, Sarbanes-Oxley, Tax Fraud, Whistleblower, workplace retaliation
The Second Circuit Court of Appeals in, Berman v. Neo@Ogilvy LLC, held that the Dodd-Frank Act provides protection for internal whistleblowers. According to the Second Circuit, Dodd-Frank does not require individuals who suspect wrongdoing to report their suspicions directly to the…
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A Tennessee court highlighted the split amongst circuit courts regarding the Dodd-Frank Act and its protections for whistleblowers. On December 8, 2015, the Eastern District of Tennessee dismissed John S. Verble’s whistleblower claims, finding that Verble was not entitled to…
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The Security and Exchange Commission’s Office received almost 4,000 tips in 2015 – a 30% rise in the number of whistleblower tips since 2012.