SciClone and SAP Settle SEC FCPA Investigations
This week, the SEC announced the resolution of its FCPA investigation into SAP and SciClone Pharmaceuticals announced its own resolution with the SEC. SciClone agreed
Barclays and Credit Suisse Pay Millions to Settle Dark Pool Misconduct Allegations
The U.S Securities and Exchange Commission and the New York State Attorney General have resolved investigations into wrongdoing by Barclays and Credit Suisse in the
Swiss Bank Tax Evasion Program Final Total: $1.3 Billion
The Department of Justice has reached the last non-prosecution agreement with a Swiss Bank as part of its voluntary disclosure program which ended in 2013.
SEC Challenges in Financial Disclosures and Auditors
In a speech this week, SEC Enforcement Chief Andrew Ceresney discussed the types of wrongdoing the SEC has seen over the past few years in
CFTC Launches New Whistleblower Website
The CFTC has launched a new, separate website for its Dodd-Frank whistleblower program. Previously, individuals searching for information looked to the CFTC website which contained
Insider Trading: Personal Benefit Standard Under Supreme Court Review
Last year, we speculated about the likelihood that the Supreme Court would accept a significant insider trading case at the urging of the Justice Department.
Supreme Court Upholds Class Actions Against Wage Theft
It has been a good week for consumers and employees as the Supreme Court protected the right to proceed with a class action and the
Industry Expert Receives $700,000 SEC Reward Amidst 4 Whistleblowers
The SEC rewarded an industry expert with more than $700,000 after evaluating four whistleblower requests for a reward. In the press release concerning the award,
Goldman Sachs to Settle Mortgage Fraud Issues for $5.1 Billion
Goldman Sachs announced a tentative agreement yesterday with the Department of Justice, two state governments and a few other entities concerning federal and state investigations
Employment Class Action Settlements Set Record in 2015 Amidst Tidal Wave of FLSA Lawsuits
Class Action Litigation Report Settlements in all types of workplace class actions in 2015 reached an all-time high of $2.48 billion according to the 12th
ETFS and Variable Annuities Added to SEC Exam Priorities in 2016
Exchange Traded Funds and Variable Annuities Expect the Securities and Exchange Commission to take a harder look at whistleblower tips related to Exchange Traded Funds
Morgan Stanley Pays $8.8 million to SEC for Prearranged MBS Trading
Morgan Stanley Agrees to Settlement Morgan Stanley Investment Management has agreed to pay $8.8 million to resolve an investigation into mortgage backed securities that its
Four Settlements Highlight Justice Dept’s Health Care Actions
End of the Year Settlements It must be the last weekend before Christmas because health care companies are looking to resolve government investigations into their
JP Morgan Pays Massive $367 to Settle Client Steering Probes by SEC, CFTC
Settlement Agreements for JP Morgan An investigation into the adequacy of disclosures to clients of its wealth management business has resulted in a settlement of
Reminder: CA and IL Allow Insurance Fraud Whistleblowers
Insurance Fraud Whistleblowers The majority of work we do for whistleblowers reporting health care fraud involves cases of fraud against the US Government’s Medicare and
CFTC Fines Total $3.6 Million for Natural Gas Manipulation
The U.S. Commodity Futures Trading Commission will settle an investigation into manipulation of the natural gas market with a subsidiary of French oil company Total
SEC Investigates Collusion in Harmful Credit Default Swaps
Bloomberg is reporting that investment banks are under investigation by the Securities and Exchange Commission for manipulation of the credit default swap market. Employees or
Whistleblower Rewards Exceed $597 Million in FY 2015
Whistleblower Rewards are High Whistleblowers helped the Justice Department recover $2.8 billion in fiscal year 2015. For their assistance, they received nearly $600 million in