Author: Young Law Group

Citigroup Accused of Spoofing In January, the CFTC settled its first civil enforcement action against a bank for spoofing when Citigroup agreed to pay a $25 million fine for sending orders into the U.S. Treasury futures market with the intent of canceling them. Now, the CFTC has entered into its first non-prosecution agreements ever, making...

FCPA Enforcement Action Against Halliburton At the end of July, the U.S. Securities and Exchange Commission announced a $29.2 million settlement against Halliburton for payments made to a local Angola company in the course of winning lucrative oilfield services contracts. The corporate settlement was the first under the Foreign Corrupt Practices Act (FCPA) since President...

“An entirely new area of healthcare fraud” The Department of Justice (DOJ) is expected to investigate electronic health record (EHR) software providers for health care fraud following allegations against a major player that resulted in a $155 million settlement under the False Claims Act for skirting meaningful use regulations. In a recently released video, a...

SEC Enforcement Impacted by Supreme Court The Supreme Court, in a unanimous decision in Kokesh v. SEC published at the beginning of June, held that a five year statute of limitations applies to any claim for disgorgement. The decision could limit the amount of fines issued by the SEC and will be an important one...

Whistleblower Award in the Millions The Securities and Exchange Commission (SEC) recently agreed to provide approximately $2.5 million to a SEC whistleblower that worked for a government agency. The SEC whistleblower both provided the initial information that led to the opening of the case but also provided critical documents and testimony that accelerated the pace...

Medicare Advantage Fraud Medicare Advantage fraud has been an area of increasing focus recently. Earlier this year, the Department of Justice intervened in two whistleblower lawsuits against UnitedHealth. Investigations into the operation of other Medicare Advantage plans are reportedly continuing. And the amount of money at stake in this area continues to increase as more...

Still Waiting for the NHTSA Whistleblower Rules The National Highway Traffic Safety Administration (NHTSA) has yet to publish the proposed rules for the NHTSA whistleblower program. This whistleblower program was authorized by the Fixing America’s Surface Transportation (FAST) Act in December 2015. The terms of the Motor Vehicle Safety Whistleblower Act required the Department of...

Financial Conduct Authority Details Decline in Whistleblower Tips A report earlier this month by the Financial Conduct Authority detailed the declining number of whistleblower tips reported to the British authorities. From 2014-15 to 2016-17, the number of reports has declined each year, resulting in just 900 cases in the last year. In 2014-15, the FCA...