Bitcoin, representing cryptocurrencies like Plexcoin

SEC Cyber Unit Freezes 15 Million in Investor Funds Raised by PlexCoin

SEC Attempts to Halt ICO by PlexCoin The SEC today announced an enforcement action against the Initial Coin Offering (ICO) by PlexCoin. The SEC obtained a freeze on the purportedly $15 million in investor funds raised by PlexCoin from thousands of U.S. and international investors since August. According to the complaint filed by the SEC...

Cryptocurrency and a graph, representing cybersecurity

Evaluating Cryptocurrencies for Potentially Big Whistleblower Cases

Cryptocurrency, led by bitcoin, has become a hot topic in the mainstream media recently. Both the CME and Nasdaq have announced plans to introduce trading in bitcoin futures. And the investing community continues to be split between those who believe it is the future of currency and those who believe it is a bubble or,...

Photo of a Federal Court House and Post Office, representing Bipartisan Budget Act and to exemplify the debate in collected proceeds

Collected Proceeds Debate Continues in Regards to Title 26 in IRS Whistleblower Cases and Congress

The Debate in Collected Proceeds Still Continues The Justice Department has appealed a decision by the U.S. Tax Court last year to provide an IRS whistleblower reward based upon a criminal fine and civil forfeitures. The Government’s appeal to the D.C. Circuit attempts to reverse a favorable decision for whistleblowers on the definition of collected...

Magnifying Glass on Top of Document, representing accounting fraud

The Annual CFTC Whistleblower Report for 2017

2017 CFTC Whistleblower Report The CFTC has also issued its annual report to Congress on the Dodd-Frank Act whistleblower program during Fiscal Year 2017. The CFTC did not issue any whistleblower awards last year. However, it did amend the whistleblower rules and regulations through a period of public notice and comment rulemaking. The CFTC Whistleblower...

Closeup of Library Book Spines, representing whistleblower report and Internal SEC Whistleblowers

SEC Issues Annual Whistleblower Report for 2017

Annual Whistleblower Report is Here The annual SEC whistleblower report to Congress for Fiscal Year 2017 has been released. It provides information and data about the activities of the SEC Whistleblower Office (referred to in the report as OWB) from October 1, 2016 to September 30, 2017. Over the year period, the SEC received over...

Bridge Over Body of Water, representing Wisconsin False Claims Act Repeal

Wisconsin False Claims Act Repeal Costs State $11 Million

An Expensive False Claims Act Repeal The Wisconsin Center for Investigative Journalism has estimated that the state of Wisconsin gave up $11 million when it weakened the Wisconsin False Claims Act and then repealed it as part of the 2015-2017 budget process. The Federal False Claims Act, 31 U.S.C. § 3729 et. seq., is the...

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SEC Enforcement Division Issues Annual Report on FY2017

Annual Report by the SEC Enforcement Division This week, the SEC Enforcement Division issued its annual report on its enforcement actions in Fiscal Year 2017 and its priorities for the future. The SEC whistleblower office will put out a separate report, but the enforcement division noted that the SEC reviewed more than 16,000 tips and...

Washington DC Capitol Building where whistleblower statutes have been discussed, representing whistleblower protections and the CHOICE Act

Senate Considering Strong Antitrust Whistleblower Protections Again

Whistleblower Protections Back in the Senate The bipartisan bill promoting whistleblower protections for individuals reporting antitrust violations, the Criminal Antitrust Anti-Retaliation Act (“CAARA”), is back in the Senate. The law is co-sponsored by Senators Charles Grassley (R-Iowa) and Patrick Leahy (D-Vermont). On November 2nd, S. 807 advanced out of the Senate Judiciary Committee and the...

Close-up Photograph of a Calculator and a Graph Paper, representing the IRS

IRS LB&I Now Has 24 Issues for Tax Examinations

The IRS Large Business & International Division (LB&I) is launching eleven compliance campaigns to target potential tax issues at the nearly 300,000 taxpayers within its jurisdiction. When a regulator announces that it will spend resources for investigation and enforcement in a particular area, it can be a good signal that it will look carefully at...

Dollar banknote on white table, representing whistleblower amendments, insider trading, and whistleblower awards.

Grassley Proposes 15 Solid Whistleblower Amendments to Senate’s Tax Cuts and Jobs Act

Whistleblower Amendments Proposed Senator Grassley has proposed 15 amendments to the Senate bill for the Tax Cuts and Jobs Act. Two of those amendments are important to whistleblowers, so we are going to examine them in more detail here. Amendment #1 from Grassley is intended to unify the tax treatment of whistleblower awards. The amendment...

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