After a nearly three-month dry period for whistleblower bounties, the U.S. Securities and Exchange Commission this week awarded a pair of tipsters who helped the agency bring successful enforcement actions. On Thursday, two days after awarding nearly $2.5 million to an employee of an unspecified government agency—the first-ever of such an award—the SEC approved a…
Who Is an Eligible SEC Whistleblower? Chapter 6
Most individuals, regardless of citizenship, may be “eligible” whistleblowers if they voluntarily provide the SEC with original information about a possible violation of the federal securities laws that has occurred, is ongoing, or is about to occur. The information provided must lead to a successful SEC action that results in monetary sanctions exceeding $1 million….
Wells Fargo Whistleblower Prevails in OSHA Investigation of Retaliation Claims
The U.S. Department of Labor (DOL) has ordered Wells Fargo to reinstate and pay approximately $577,500 damages to a former branch manager in Pomona who was terminated for complaining about salespersons creating unauthorized accounts to meet unrealistic sales targets. This is the second Occupational Safety and Health Administration (OSHA) order in 2017 ruling for a…