On September 29, 2015, the U.S. Commodity Futures Trading Commission (CFTC) announced that it will make its second award as part of its whistleblower program, which was created by Dodd-Frank. The tipster will receive a...more
On May 25, 2015, the Wall Street Journal published an article reporting that tipsters have found it difficult to collect financial awards from the SEC after filing whistleblower claims....more
A Wall Street Journal article (subscription required) dated May 4, 2015 reports that a backlog of tips received by the SEC Office of the Whistleblower as part of its bounty program has resulted in a delay in paying awards to...more
We have seen a number of substantial whistleblower awards make headlines this year, but a recent article on nytimes.com discusses the potential downsides of government-sponsored bounty programs: rewarding whistleblowers by...more
As discussed in a Law360 article by Ed Beeson, the Second Circuit Court of Appeals will decide in Stryker v. SEC, No. 13-cv-4404, whether the SEC needs to pay Dodd-Frank whistleblower bounties to tipsters who provided...more
As reported by The Washington Post, on April 4, 2014, the IRS issued its “Fiscal Year 2013 Report to the Congress on the Use of Section 7623” revealing that it paid whistleblowers $53 million in 2013. The agency said that it...more
The New York County Lawyers Association Committee on Professional Ethics released Formal Opinion 746 on October 7, in which the Committee considered whether New York lawyers can ethically collect bounties for submitting...more