Wall Street Continues to Perpetuate the Same Old Abuses
A former UBS research analyst has filed a lawsuit filed against the bank alleging that he was fired for refusing to write inaccurate research reports to benefit (or avoid harming) UBS’s trading...
View ArticleSEC Begins Paying Out Whistleblower Awards
The first whistleblower award in the amount of $50,000 was paid by the U.S. Securities and Exchange Commission to a person who helped shut down an investment fraud. The SEC action resulted in more than...
View ArticleHuge Award Shows the Benefits of Whistleblowers
The IRS has awarded $104 million to former UBS AG banker Bradley Birkenfeld for providing it with inside information about UBS’s illegal encouragement of secret offshore accounts by U.S. taxpayers. The...
View ArticleRetaliation Against Whistleblowers Doesn’t Pay
Corporations that retaliate against whistleblowers are learning tough lessons. The Ethics Resource Center recently released an analysis of corporate whistleblowers and retaliation against them. The...
View ArticleWhitleblower Claims Rise as Wall Street Fires Employees
Even senior Wall Street bank employees are finding the new whistleblower laws beneficial. Wall Street banks fought tooth and against the Dodd-Frank whistleblower protections. The big banks claimed that...
View ArticleHow Does Wall Street Deal with Major Frauds? It Points the Finger at...
William D. Cohan, who worked on Wall Street as a senior mergers and acquisitions banker for 15 years, has a theory on why no Wall senior executives have been sued by regulators or prosecuted for their...
View ArticleSEC Sanctions MassMutual for Variable Annuity Abuses
MassMutual failed to disclose risks associated with certain Guaranteed Minimum Income Benefit riders (specifically its GMIB 5 and GMIB 6 riders) and must now pay $1.65 million to settle SEC charges...
View ArticleWhistleblowers Srike Again
Bank of New York Mellon and the state of Virginia have agreed to resolve their dispute over BNY Mellon’s allegedly overcharging Virginia’s employee pension fund on currency transactions by means of...
View ArticleSEC Whistleblower Laws Are Working
Securities firms and their general counsel are openly worried about the SEC’s whistleblower program. They fought tooth and nail to stop the program, arguing that whistleblowers would bypass the...
View ArticleFinancial Services Whistleblower Cases – A New Twist
Financial service industry whistleblower claims have become a hot item. Ironically, it is even reported that a crowd funding website is being used by an individual who hopes to raise money from people...
View Article
