Stay updated with breaking news from Sec Whistleblower Program. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
This week Transparency International released its 2022 Corruption Perceptions Index CPI, an indicator of public sector corruption that scores 180 countries based on perceptions of public sector corruption.
Due to declines in public offerings, mergers, trading activity, Wall Street banks are restructuring and reducing headcount. Goldman Sachs laid off approximately 3,200 employees, and Morgan Stanley, Barclays, and other financial institutions have announced job cuts.
On January 6, 2023, the Securities and Exchange Commission, SEC issued a $5 million whistleblower award to an individual who voluntarily provided original information that contributed to the success of an enforcement action. It is the first award granted by the agency in 2023.
Following the SEC’s failure to detect and stop Madoff’s fraud, Congress included in the Dodd Frank Act an SEC Whistleblower Program, which provides awards to whistleblowers that voluntarily provide original information leading to successful enforcement actions up to $1 million.
President Biden signed the bipartisan Speak Out Act into law, which takes effect immediately. The new law limits the enforceability of pre-dispute non-disparagement and non-disclosure clauses relating to sexual assault and sexual harassment claims.