In November, the SEC Office of the Whistleblower (“OWB”) released its 2013 Annual Report on the Dodd-Frank Whistleblower Program (the “Report”). The Report details the number of whistleblower tips and complaints received and the amount of whistleblower awards made during fiscal year 2013.
Whistleblower Complaints and Tips FY 2013
According to the Report, the SEC
The Consumer Financial Protection Bureau (CFPB or Bureau), fresh off Director Richard Cordray’s Senate confirmation over the summer, is moving forward with more confidence and purpose in its investigation and enforcement strategies, as we last discussed in our report on the CFPB’s roadmap for “Responsible Business Conduct.” Two recent developments suggest that the
Roll Call November 13, 2013
Q. I am a House staffer and have been offered a chance to participate in the initial public offering of a well-known company that is about to go public. My position as a House staffer had no role at all in the opportunity becoming available to me. In fact, the
Financial institutions often encounter suspicious transactions that warrant the filing of a suspicious activity report (“SAR”). When this occurs, the Bank Secrecy Act (“BSA”) and federal regulations specifically prohibit the unauthorized disclosure of the SAR, or any information that may reveal the existence of the SAR. This confidentiality requirement may place certain employees, especially those
Roll Call October 15, 2013
Q. I am a staffer for a member of the House. The government shutdown has caused most members’ offices to furlough staffers, and I am one of them. Unfortunately, there are a number of things I was working on before the shutdown, and I’d like to be able to make
On April 22, 2013, the SEC announced that it had entered into a non-prosecution agreement (NPA) with Ralph Lauren Corporation (RLC), allowing RLC to avoid prosecution for violations of the Foreign Corrupt Practices Act (FCPA). This is the first NPA the SEC has entered involving FCPA violations.
From 2005 to 2009, RLC’s Argentine subsidiary paid
Disclosing the results of a company’s internal investigation to government investigators is always fraught with potential problems. The most obvious is the danger of waiving attorney-client privilege and work product protections that would otherwise shield the internal investigation from discovery in parallel litigation. But another less-heralded danger is the risk of defamation claims by employees identified
Crime and Courts Act 2013. The Schedule contains a requirement that the DPP and the Director of the SFO jointly issue a Code giving guidance for prosecutors on a number of matters, including the general principles to be applied in determining whether a DPA is likely to be appropriate in a given case.
A Parliamentary Bill which, amongst other things, makes provision to introduce Deferred Prosecution Agreements into the UK received the Royal Assent last week. The subject of Deferred Prosecution Agreements (“DPAs”) is covered in section 45 and Schedule 17 of the Crime and Courts Act 2013. The salient provisions contained in the Schedule are as follows:
This would appear to be a clear message, both to commercial organisations and to the OECD, that the SFO regards facilitation payments as being an important item on its current agenda.