As reported by the Wall Street Journal, the Obama administration will seek to remove the $1.6 million cap on rewards to whistleblowers who provide evidence of criminal conduct by financial executives under the 1989 Financial Institutions Reform, Recovery and Enforcement Act (FIRREA).
Watchdogs Petition SEC to Strengthen Prohibitions Against Impeding Complaints to SEC
On July 18, 2014, a coalition of plaintiff-side lawyers and government watchdog groups proposed ways to strengthen the SEC whistleblower program in two petitions filed with the SEC. The groups urged the SEC to update Rule 21F-17, which prohibits any action that would “impede” an individual from communicating with the SEC about securities law violations, by expanding its rules governing the use of nondisclosure agreements and increasing the scope of protections for whistleblowers.
Podcast on Implications of U.S. Supreme Court’s First SOX Whistleblower Decision
Steven J. Pearlman, co-head of Proskauer’s Whistleblower & Retaliation Group, recently delivered a PODCAST for TheCorporateCounsel.net, focusing on the implications of the U.S. Supreme Court’s first SOX whistleblower decision, Lawson v. FMR.
This Podcast captures Pearlman’s interview with Randi Morrison, where Ms. Morrison presents the following questions:
Webinar With Leaders From SEC, CFTC and OSHA Whistleblower Programs, Proskauer and Plaintiff-Side Attorney
On April 30, at 12:00 – 1:30 Central, Proskauer will participate in a webinar through BNA with leaders from the SEC, CTFC and OSHA whistleblower programs and a plaintiffs’-side whistleblower attorney. The webinar will focus on cutting-edge developments in the Sarbanes-Oxley and Dodd-Frank whistleblower arenas. The program, which will
Wall Street Journal Quotes Proskauer’s Pearlman on 2013 Whistleblower Events & 2014 Forecast In Multiple Articles
In a January 27, 2014 article penned by Rachel Louise Ensign in the Wall Street Journal (Risk and Compliance Journal) titled “Why 2014 Could be Huge for Corporate Whistleblowers,” Steven Pearlman, partner and co-head of Proskauer’s Whistleblower Practice Group, commented on the need for employers to encourage employees to lodge complaints internally without fear of retribution. Pearlman suggested that companies give consideration to whether a bonus tied to the benefit the employee conferred upon the company, or letter of appreciation recognizing an employee’s reporting efforts, may fit the bill. Putting the value of providing such incentives in context, the article discussed an anticipated uptick in external whistleblowing reports in 2014, noting that SEC “officials have promised more big bounties soon,” and that the DOJ secured $3.8 billion in False Claim Act settlements and judgments during FY2013.
The Wall Street Journal (Risk & Compliance Journal) Quotes Steve Pearlman On Uptick In And Implications Of Whistleblower Claims By Compliance Professionals
In an insightful and timely article that appeared on WSJ.com yesterday (subscription required), Steven J. Pearlman, co-head of Proskauer’s Whistleblower & Retaliation Group, commented on the uptick of whistleblower complaints arising from compliance employees.
Law360 Quotes Steve Pearlman on “Sweeping Tide” of Whistleblower Claims
In a Law360 article (subscription required), Steven J. Pearlman, co-head of Proskauer’s Whistleblower & Retaliation Group, commented on a “troubling” ruling recently rendered by the Merit Systems Protection Board (“MSPB”) in Day v. Department of Homeland Security, No. DC-1221-12-0528-W-1 (June 26, 2013). In that decision, the MSPB
Law360 Quotes Steve Pearlman on SEC Whistleblower Program
In a Law360 article (subscription required), Steve Pearlman, co-head of Proskauer’s Whistleblowing & Retaliation Group, commented on the “controversy” surrounding the requirement some employers impose upon employees to report misconduct internally. Pearlman noted that “[t]he plaintiffs bar and defense attorneys are sharply divided over the issue, with the whistleblower office opposed to mandatory reporting.”
Law360 Quotes Steve Pearlman on Keeping Whistleblower Complaints In-House
In a Law360 article (subscription required), Steve Pearlman, co-head of Proskauer’s Whistleblowing & Retaliation Group, offered ways for companies to minimize their potential whistleblower liability. Underlying Pearlman’s advice is the premise that “[i]t is better for the company and the shareholders alike for complaints to be lodged internally and to be brought to the company’s attention promptly, so they can be swiftly investigated and any underlying concerns can be rooted out.”
Sign Up For Proskauer’s Comprehensive Whistleblowing & Retaliation Webinar Series
On Tuesday, March 26, 2013, Proskauer’s Whistleblower & Retaliation Practice Group will be hosting the first of several webinars as part of the Whistleblowing & Retaliation Webinar Series. The first program, titled SOX and Dodd-Frank Whistleblower Claims and Bounties: Understanding the New Landscape and Minimizing the Risks, will focus on