Entries in Whistleblower (85)
Whistleblower tips and complaints increased to 3,238 in 2013, up from 3,001 in 2012, the SEC's Office of the Whistleblower said in its annual report to Congress. There were 149 FCPA tips in fiscal year 2013, up from 115 in 2012.
Health care giant Johnson & Johnson will pay more than $2.2 billion to resolve criminal and civil claims arising from allegations of kickbacks to U.S. doctors and improper marketing claims about three of its prescription drugs.
The halls of regulators and law enforcement agencies around the world appear to be full of government officials investigating cases of bribery and corruption.
The SEC now pays for information about securities law violations -- including the FCPA -- leading to a recovery of at least $1 million. The whistleblower reward can be from 10% to 30% of the recovery -- a big range that's entirely within the SEC's discretion.
A federal lawsuit by the compliance officer for Siemens' healthcare business in China who said he was fired for internally reporting FCPA violations was dismissed Monday. The U.S. District Court in New York said the anti-retaliation provisions of the Dodd-Frank Act don't apply outside the United States.
The recent announcement that the U.K.’s legislature and enforcement agencies are considering the case for financially incentivizing whistleblowers in economic crime cases, thus aping the U.S.-approach, presents a serious and insidious threat for U.K. companies.
Compliance officers looking to increase ethical behavior in their companies might consider putting aside traditional training methods and instead administer hits of dopamine or distribute food pellets as rewards for doing “the right thing.”