Legal Blog

The Annual CFTC Whistleblower Report for 2017

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...

SEC Issues Annual Whistleblower Report for 2017

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...

Wisconsin False Claims Act Repeal Costs State $11 Million

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has estimated that the state of Wisconsin gave up $11 million when it weakened the Wisconsin False Claims Act and then repealed it as part of the 2015-2017 budget process.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...

SEC Enforcement Division Issues Annual Report on FY2017

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...

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...

Have Investors Been Harmed?

One of the central questions that we ask in the evaluation of information from potential whistleblowers is whether there is real and actual harm as a result of the company or individual breaking the law. In other words, is it merely a technical violation of the law or...

SEC Charges Rio Tinto with Accounting Fraud

The U.S. Securities and Exchange Commission has filed a complaint in the Southern District of New York alleging violations of the Securities Act and the Exchange Act for an accounting fraud related to the valuation of a coal business in Mozambique, Africa. Rio Tinto...

Telia Settles FCPA Bribery Investigation for $965 Million

The United States has concluded its third-largest FCPA enforcement action with a settlement of $965 million in total penalties (including Dutch and Swedish penalties) by Telia Company AB and its subsidiary, Coscom. The Acting U.S. Attorney of the Southern District of...

IRS Clarifies 6103(n) Whistleblower Contracts

Earlier this year, the IRS Whistleblower Office and its Director Lee Martin issued guidelines for the use of 6103(n) contracts with tax whistleblowers. This has been a somewhat controversial area in the past, since it requires balancing the privacy rights of the...

Recap of CFTC Whistleblower Program in FY 2017

Recap of CFTC Whistleblower Program in FY 2017

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...

U.S. Takes on Disaster Fraud and ICO Fraud

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....