Financial Regulatory Forum

SEC whistleblower program stricter than IRS bounty which paid $104 million to felon, former official says

By Stuart Gittleman

NEW YORK, Sept. 12 (Thomson Reuters Accelus) - Rewards like the $104 million the Internal Revenue Service said Tuesday it would pay a convicted felon would not occur under a similar Securities and Exchange Commission program, a former official who helped develop the program told Compliance Complete. (more…)

Retaliation rate against U.S. company whistleblowers climbs, senior staff affected, survey finds

By Julie DiMauro

NEW YORK, Sept. 6 (Thomson Reuters Accelus) - Retaliation against workplace whistleblowers is rising sharply, expanding into previously safe categories of employees such as senior-level managers and even in workplaces with notably strong ethical cultures, a study found.

The trend comes as new regulations require more formal reporting channels for internal whistleblowing and more managers use them, study sponsors said. They recommended that companies more closely monitor what happens to whistleblowers after they report. (more…)

Companies should use metrics to defend themselves from Dodd-Frank whistleblower claims, report says

By Emmanuel Olaoye

NEW YORK, March 5 (Thomson Reuters Accelus) - Companies in the United States should focus on implementing performance metrics to defend themselves from whistleblower claims and to prevent misconduct within the company, according to a report from consultancy PricewaterhouseCoopers.

Using metrics such as the turnover of compliance staff and the percentage of anonymous reports can help a company monitor the performance of its compliance program. It can also help to reduce the chances of an employee reporting misconduct directly to the Securities and Exchange Commission, PwC said in the report, which is an analysis of whistleblower rules included in the Dodd-Frank regulatory overhaul and adopted last May by the SEC. (more…)

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