Selective Focus Photography of Wheat Field, representing Commodities for the CFTC and the CFTC Whistleblower Program

Recap of Expansive CFTC Whistleblower Program in FY 2017

2017’s CFTC Whistleblower Program We are approaching the end of the U.S. Government’s 2017 fiscal year on September 30th. We haven’t written too much about the CFTC whistleblower program this year because there have only been a handful of newsworthy events in the enforcement of the Commodity Exchange Act. However, after reading the news stories...

Gray High Rise Buildings, representing CFTC's Self-Reporting Program

CFTC’s New Self-Reporting Program Recently Unveiled on Sep. 26, 2017

CFTC’s Self-Reporting Program Now Available The CFTC’s (Commodity Futures Trading Commissions) Director of Enforcement unveiled a new program this week to promote self-reporting of violations of the Commodity Exchange Act or CFTC Rules in the financial industry. According to James McDonald, it will provide a significantly reduced penalty for companies and individuals that self-report and...

Crashing Waves, representing disaster relief fraud and whistleblower retaliation

U.S. Takes on Despicable Disaster Relief Fraud and ICO Fraud

Disaster Relief Fraud and ICO Fraud Making Headlines Disaster relief fraud and Initial Coin Offering (ICO) fraud are two areas that have been making headlines recently. Based on communications reported in the media from government agencies, both areas will be the subject of government scrutiny in the next few years. With regard to disaster fraud,...

Cornice of old national bank, representing Deutsche Bank and whistleblowers

Whistleblowers Help U.S. Recover Higher Penalties

Whistleblowers Are a Big Help A recently publicized April 2017 research study has concluded that whistleblower involvement in enforcement actions related to financial misrepresentations results in higher monetary penalties for the U.S. as well as longer prison sentences in criminal actions. The study examined financial misrepresentation enforcement actions brought by the Securities and Exchange Commission...

Gold bar lot, referring to Precious Metals Fraud

Precious Metals Fraud Takes Customers for $290 Million

Precious Metals Fraud Affecting Thousands of Retail Customers The Commodity Futures Trading Commission (CFTC) has filed an enforcement action against one of the largest precious metals fraud cases in its history. In light of that action, we thought it important to remind victims and industry professionals about the CFTC whistleblower program, which offers rewards for...

Cryptocurrency and a graph, representing cybersecurity

SEC Chief Says Cybersecurity is a Top Priority

SEC Chair Says Cybersecurity is a Top Priority SEC Chair Jay Clayton declared cybersecurity one of the top enforcement issues at the securities regulator on Tuesday, according to a Reuters article. In line with this comment, we expect that there will be an uptick in the number of rewards to whistleblowers who report cyber security...

Assortment of pills in news article at Young Law Group website. Also representing REMS

False Claims Act Lawsuits over REMS Safety Education

REMS Program Results in FCA Lawsuits After a number of whistleblower lawsuits under the False Claims Act, Novo Nordisk will pay approximately $59 million to settle allegations that it minimized the cancer risk of Victoza, a diabetes medication, after the FDA required it to provide safety communications pursuant to a Risk Evaluation and Mitigation Strategies...

Close-up Photo of Police Siren, representing corporate policing

Corporate Policing in 2017: The Exciting Evolution of Whistleblowing

Corporate Policing and Whistleblowing Whistleblowing has traditionally involved insider reports of corporate wrongdoing by employees of a business. A recent whistleblower lawsuit may signal the start of a new era in the False Claims Act as businesses begin to turn in their unethical competition to the U.S. Government in order to preserve fair competition in...

Close-up Photo of Monitor, representing Ontario Securities

Ontario Securities Commission Receives Key Tips for Action

Ontario Securities Commission Accepting Whistleblower Tips Since the Ontario Securities Commission opened its whistleblower program to tips, at least four individuals have filed complaints against one of Canada’s largest private equity firms according to the Wall Street Journal. Officials at the Ontario Securities Commission and a unit of the Toronto Police Service have inquired about...

Close-Up View of System Hacking in a Monitor, representing cybersecurity

SEC Reports Substantial Cybersecurity Improvements in 2017 Risk Alert Report; Challenges Remain

Cybersecurity: A Hot Topic The SEC recently released a Risk Alert on cybersecurity produced by the Office of Compliance Inspections and Examinations (“OCIE”) this week. The Risk Alert details improvements and weaknesses observed during the National Examination Program staff’s examination of 75 broker-dealers, investment advisers and investment companies conducted between September 2015 and June 2016....

Author: Young Law Group