The Wall Street Journal published an article today about whistleblower rewards under the new provisions enacted under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”).  In After Tip, the Claim For Reward, the Journal writes about Bank of New York Mellon Corp. (“BNY”) and State Street Corp., two companies whose employees blew the [...]

Assistant U.S. Attorney General Lanny Breuer spoke at the 26th National Conference on the Foreign Corrupt Practices Act on Tuesday, and made it clear that he would vehemently oppose any efforts made weaken the FCPA.  The FCPA prohibits companies registered with the SEC from paying bribes to foreign officials, and FCPA violations have been the [...]

The SEC reported yesterday that it filed a record 735 enforcement actions in the fiscal year ending on September 30, 2011.  In doing so, the Commission said in a press release, it recovered more than $2.8 billion in penalties and disgorgement.  This may be due in part to the reorganization the Commission underwent in 2009 [...]

United States District Court Judge Jed S. Rakoff on Tuesday ordered a record financial penalty of $92.8 million against billionaire hedge fund manager Raj Rajaratnam, according to this SEC press release.  According to Robert Khuzami, director of the SEC’s Division of Enforcement, the penalty imposed by Judge Rakoff – the largest penalty ever assessed against [...]

The collapse of the brokerage firm MF Global last week has left analysts wondering whether it was the first of many to fall, and what could have been done to prevent it. As reported by the New York Times a week ago in its article “Oversight of Brokers Scrutinized,” questions over who is responsible for [...]

by David J. Marshall The SEC’s new whistleblower program – officially just one month old on September 12, 2011 – has already attracted a large number of tips from insiders who have provided the Commission with information about securities violations.  Whistleblower advocates are impressed with the job the SEC’s new Office of the Whistleblower is [...]