Securities and Exchange Commission (“SEC”) Chairman, Mary L. Schapiro, and Chief of the SEC’s Office of the Whistleblower, Sean McKessy, recently spoke before a Practicing Law Institute seminar entitled “The SEC Speaks in 2012.”  Both officials trumpeted the success of the new whistleblower program and the value that whistleblowers provide to the SEC’s enforcement objectives [...]

Chief compliance officers (“CCOs”) received some stern warnings from Securities and Exchange Commission (“SEC”) officials at the Investment Adviser Association’s annual compliance conference, held earlier this month in Arlington, Virginia.  The website AdviserOne reported that Robert Plaze, deputy director of the SEC’s Division of Investment Management, was joined by Sean McKessy, chief of the SEC’s [...]

A motion to dismiss has been filed in the U.S. District Court for the Southern District of Texas in a case brought by a whistleblower under the new Securities and Exchange Commission (“SEC”) whistleblower program.  In Asadi v. G.E. Energy (USA), LLC, G.E. Energy (“GE”) has moved to dismiss a whistleblower retaliation claim brought by [...]

A whistleblower who reported massive tax fraud on the part of multiple U.S. companies in 2007 is still waiting on a reward, reports the Washington Post.  Joseph A. Insinga, formerly an executive at Rabobank Group, alleges that his company helped seven companies avoid hundreds of millions of dollars in taxes.  He filed a whistleblower claim [...]