News & Analysis as of

Securities Violations Whistleblowers Financial Services Industry

Proskauer - Whistleblower Defense

Former Executive Secures $34.5 Million Settlement in Whistleblower Retaliation Case

On March 20, 2025, in Zornoza v. Terraform Global Inc. et al, No. 818-cv-02523 (D. Md. Apr. 4, 2025), a former executive of two SunEdison subsidiaries secured a $34.5 million settlement over his SOX whistleblower retaliation...more

Troutman Pepper Locke

SEC Charges Broker-Dealer and Two Affiliated Investment Advisers With Violating Whistleblower Protection Rule

Troutman Pepper Locke on

On September 4, the Securities and Exchange Commission (SEC) issued an order against three investment adviser firms for violating the whistleblower protections of Rule 21F-17(a) under the Securities Exchange Act of 1934. This...more

Cozen O'Connor

The British Columbia Securities Commission Implements a New Whistleblower Program

Cozen O'Connor on

On November 7, 2023, the British Columbia Securities Commission (the BCSC) implemented a Whistleblower Program (the BCSC Program), under BC Policy 15-604 (the Policy) to encourage individuals to voluntarily provide...more

Stikeman Elliott LLP

BCSC Launches Whistleblower Program with Financial Awards

Stikeman Elliott LLP on

On November 7, 2023, the British Columbia Securities Commission (“BCSC”) launched a whistleblower program designed to provide financial awards for qualified tips about investment fraud and other serious types of market...more

Orrick, Herrington & Sutcliffe LLP

SEC awards whistleblowers approximately $18 million

On January 19, the SEC announced three whistleblower awards totaling approximately $18 million to claimants who provided information and assistance that led to a successful enforcement action....more

Orrick, Herrington & Sutcliffe LLP

SEC issues $5 million whistleblower award

On January 13, the SEC announced an award totaling nearly $5 million to a whistleblower whose new information and assistance led to a successful SEC enforcement action. ...more

Jones Day

A New Frontier for Whistleblowers: The Model Whistleblower Award and Protection Act for the States

Jones Day on

New efforts by states to incentivize whistleblowers financially underscore the importance of comprehensive corporate compliance programs that effectively address all internal reports of potential misconduct that may...more

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