SEC Cancels Vote Limiting Whistleblower Rights — Again

The U.S. Securities and Exchange Commission has canceled a scheduled vote on proposed rules that would restructure its Dodd-Frank Act mandated whistleblower reward program. This is the second time the vote on the proposed changes has been canceled.  “We hope that the Commission is using this additional time to ensure that the proposed changes do not…

Whistleblower Receives $50M Award, Largest in SEC History | National Law Journal

The U.S. Securities and Exchange Commission on Thursday issued the largest bounty in the decadelong history of its program for paying tipsters, awarding nearly $50 million to a whistleblower who was credited with providing “firsthand” information about corporate misconduct that led to an enforcement action. “This award marks several milestones for the whistleblower program,” Jane…

FCA fines Barclays boss £640k over whistleblower failings – Citywire

The Financial Conduct Authority (FCA) and Prudential Relegation Authority (PRA) have fined the chief executive of Barclays £642,430 over his handling of a whistle blower.In a joint statement the two regulators announced the Barclays chief James Staley will be fined for his failure to ‘act with due skill, care and diligence in the way he acted…

Whistleblowers Can Sue Directors – WSJ

Whistleblowers are allowed to seek compensation from directors of a company, a federal judge ruled in California, broadening legal protections for whistleblowers by expanding those who can be held liable in such cases. U.S. District Court Judge Joseph Spero in the Northern District of California ruled that although it was a “close call” and few…