Tagged with "whistleblower"

SEC Fines Guggenheim Over Anti-Whistleblower Policy

Posted on July 7th, 2021 at 12:02 PM
SEC Fines Guggenheim Over Anti-Whistleblower Policy

The Securities and Exchange Commission (SEC) fined Guggenheim Securities LCC at least $208,000 after discovering that the New York-based firm’s compliance manual contained language that restricted potential whistleblowers from speaking with regulators.

Read More »

SEC Awards Joint Whistleblowers Over $50 Million

Posted on April 29th, 2021 at 10:43 AM
SEC Awards Joint Whistleblowers Over $50 Million

The Securities and Exchange Commission (SEC) has awarded over $50 million to joint whistleblowers.

Read More »

SEC Awards $28 million to Whistleblower

Posted on November 6th, 2020 at 1:59 PM
SEC Awards $28 million to Whistleblower

The U.S. Securities and Exchange Commission (“SEC”) announced that it awarded more than $28 million to a whistleblower as part of the SEC’s Whistleblower program.

Read More »

SEC Awards Whistleblower Record $114 Million

Posted on October 26th, 2020 at 3:03 PM
SEC Awards Whistleblower Record $114 Million

A whistleblower who submitted a tip to the U.S. Securities and Exchange Commission (“SEC”) received a record $114 million award.

 

Read More »

SEC Reverses Course, Awards $800,000 to Whistleblower

Posted on October 16th, 2020 at 1:58 PM
SEC Reverses Course, Awards $800,000 to Whistleblower

The U.S. Securities and Exchange Commission (“SEC”) issued an $800,000 whistleblower award. As reported by Law360, what is unusual about this award is that it comes after the SEC initially denied the award claim and then subsequently reversed course.

Read More »

SEC Awards Whistleblower Almost $50 Million

Posted on June 5th, 2020 at 4:07 PM
SEC Awards Whistleblower Almost $50 Million

A whistleblower who submitted a tip to the U.S. Securities and Exchange Commission (“SEC”) received a nearly $50 million award.  This award is the largest award ever given to a single individual under the SEC whistleblower program, surpassing the previous record of $39 million awarded in 2018. The SEC also noted that it had now awarded more than $500 million through its whistleblower program.

Read More »

SEC Awards Whistleblower $18 Million

Posted on April 29th, 2020 at 5:15 PM
SEC Awards Whistleblower $18 Million

A whistleblower who submitted a tip to the U.S. Securities and Exchange Commission (“SEC”) received an $18 million award.  The SEC listed several factors on which the award total was based. The SEC highlighted the fact that the whistleblower reported the problem internally multiple times and suffered hardship as a result of that reporting.  The SEC also said that the whistleblower assisted SEC staff throughout the SEC’s examination, and the examination resulted in millions of dollars being returned to harmed investors.

Read More »

Increase in Whistleblower Claims Expected

Posted on April 27th, 2020 at 5:08 PM
Increase in Whistleblower Claims Expected

A rise in whistleblower claims is expected as the fallout from the COVID-19 pandemic continues.  A similar swell of whistleblower claims occurred following other major events, including the terrorist attack on September 11, 2001, and the recession in 2008.  The expected rise in whistleblower claims is not expected to be limited to COVID-19 related claims, but will also include an increase in whistleblower claims unrelated to the pandemic.

Read More »

SEC Awards $450,000 to Whistleblower

Posted on April 20th, 2020 at 4:51 PM
SEC Awards $450,000 to Whistleblower

The U.S. Securities and Exchange Commission (“SEC”) announced that it had awarded $450,000 to a whistleblower.  Unlike most individuals who receive a whistleblower award from the SEC, the recipient of this award had compliance-related responsibilities at their firm. Under the compliance officer exclusion, Individuals whose primary duties include compliance or internal audits are usually not eligible for SEC whistleblower awards.  However, those individuals can be eligible for an SEC whistleblower award if 120 days have passed since that individual reported the issue internally. Per SEC Protocol, neither the whistleblower nor the enforcement action was identified.

Read More »

CFTC Focuses on Whistleblowers as Enforcement Increases

Posted on September 26th, 2019 at 4:56 PM
CFTC Focuses on Whistleblowers as Enforcement Increases

The U.S. Commodity Futures Trading Commission ("CFTC") is actively calling for whistleblowers who may know about misconduct as it extends enforcement to areas usually controlled by the U.S. Department of Justice (“DOJ”) and the Financial Crimes Enforcement Network.   

Read More »

TESTIMONIALS

Previous
Next

As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

Bill C. and Dan M.

LATEST NEWS AND ARTICLES

December 3, 2021
FINRA Issues Fine to Small Advisory Firm Over Material Misrepresentations

The Financial Industry Regulatory Authority has censured and issued a $250,000 fine to a Los Angeles-based advisory firm, WestPark Capital Inc., for making material misrepresentations pertaining to promissory notes offered by its parent company.

December 2, 2021
FINRA Imposes Suspension on Ohio-Based Advisor Over Outside Investments

The Financial Industry Regulatory Authority (FINRA) has issued a one-year suspension and $12,500 fine to an Ohio-based advisor, William LeBoeuf, who worked at Merrill Lynch and Cetera Advisor Networks when the violations occurred.

December 1, 2021
SEC Charges Former Illinois Edward Jones Advisor With Fraud

The Securities and Exchange Commission (SEC) has charged a former Illinois-based investment advisor, Ronald Molo, with defrauding three clients out of at least $800,000.