The Legal Wire的动态

Thank you?Bloomberg Law for publishing this column discussing how #whistleblower reward programs strengthen corporate compliance. In particular, whistleblower reward programs: ·?????enhance regulators’ ability to detect and halt #fraud schemes before investor losses mount, and combat complex frauds that threaten market integrity; ·?????encourage companies to genuinely police themselves and implement quality systems to detect violations; and ·?????incentivize internal whistleblowing by increasing a whistleblower’s award percentage for internal reporting. Fourteen years after Congress enacted the #Dodd-Frank Act, whistleblower reward programs have proven to be an ingenious use of market forces to combat fraud and conserve limited enforcement resources. For more information about whistleblower reward programs, see https://lnkd.in/dKSpfbn.

?? Heads up y'all ?? The DOJ is launching a ?new? whistleblower awards program later this year - offering $$$ for reporting corporate misconduct - and filling in the gaps left by the SEC, IRS, and other agencies. What it means... ?? Compliance officers might be able to skip internal reporting and go straight to the feds. It's similar to what we saw with the Anti-Money Laundering Act of 2020. ?? It's another reason for employees to bypass internal hotlines and go directly to Uncle Sam. It's going to be more crucial than ever to make sure your reporting channels are promoted, accessible, and trusted. ?? As always, a strong ethical culture and compliance program are the best defense. We need to work to create an environment where employees feel heard and empowered to speak up internally first. ?? This initiative is all part of a bigger trend around encouraging & rewarding whistleblowing. Stay tuned for more deets, but definitely start thinking about your program and how you can adapt to stay ahead of the game ?? #DOJ #ethicsandcompliance #whistleblowing #speakup #culturematters

?? Department of Justice Formally Adopts New Policies to Encourage Corporate Whistleblowers. The Department of Justice (DOJ) has formally adopted new policies aimed at encouraging corporate whistleblowers. These policies are designed to enhance transparency, accountability, and ethical conduct within organizations by incentivizing insiders to report wrongdoing without fear of retaliation.For more details read :-https://lnkd.in/di4N5UYE At Whistle Sentinel, we are committed to supporting these advancements by providing robust solutions that protect and empower whistleblowers. Our platform ensures that whistleblower reports are handled with the utmost confidentiality and integrity, aligning with the DOJ's goals. ?? How can Whistle Sentinel help? ????Confidential Reporting Channels: Secure and anonymous channels for whistleblowers to report concerns safely. ????Compliance Assurance: Tools and features designed to help organizations meet DOJ requirements and maintain compliance. ????Incident Management: Efficient tracking and management of whistleblower reports to ensure timely and effective responses. As the DOJ's new policies take effect, it's crucial for companies to adopt comprehensive whistleblower systems. Whistle Sentinel is here to support your organization in fostering a transparent and compliant culture. ?? Book a Free Demo: Connect with us to see how Whistle Sentinel can integrate with your existing frameworks and enhance your whistleblowing mechanisms. Visit www.whistlesentinel.com or contact us at +919867303707 / [email protected] to schedule a demo today.#Whistleblowing #CorporateGovernance #DOJ #WhistleblowerProtection #Compliance #Transparency #Ethics #WhistleSentinel #FreeDemo #CorporateResponsibility.

I was stunned when a friend mentioned this over dinner recently, so I wanted to share it in case others haven't heard! The DOJ’s Corporate Whistleblower Awards Pilot Program, a three-year initiative led by the Criminal Division’s Money Laundering and Asset Recovery Section, went live on August 1, 2024. This groundbreaking program offers up to $30 million to whistleblowers who expose corporate misconduct, with a special focus on healthcare and financial services. As I highlighted in my TD Bank article earlier this month, strong leadership is essential in preventing compliance breakdowns. Under this program, companies that act fast—self-reporting within a 120-day window—can secure reduced penalties and earn cooperation credits. What’s particularly noteworthy is that even those involved in the misconduct can self-report and benefit from the program, adding a unique dimension to compliance strategy. Wild! In short, for employers, it’s a call to action: bolster compliance efforts, educate leadership, and implement regular audits. Leveraging AI for monitoring and fostering a culture where employees feel safe to speak up will be essential to navigating this new environment. I’m curious to see how this will unfold in the coming months and years!

Guilty until proven innocent? Greater transparency and incentive for whistleblowing vs potential damage to companies’ value and reputation. About 65 percent of investigations close without action at the moment... Is this the right tactic? On Tuesday, the new approach was released for consultation. Watch this space!

This article discusses the likely impact of the Supreme Court's decision in Murray v. UBS Securities. I pointed out how efforts to weaken #SOX whistleblower protection undermine corporate compliance programs, which rely heavily on employees reporting concerns internally: "Pushing for weaker retaliation protections could . . . [cause] employees to feel it’s safer to take complaints about misconduct directly to regulators instead of talking to their bosses first, said?Jason Zuckerman, a whistleblower attorney who co-authored the amicus brief for Grassley and Wyden. 'Presumably companies are better off learning about fraud early on from their workers so that they have an opportunity to take remedial action,' he said. 'Public companies have incurred substantial costs to establish and maintain compliance programs. Why would public companies want to dissuade employee from making disclosures internally?'" To learn more about protections for #SEC whistleblowers, see our FAQ at https://lnkd.in/e9ZyjwRd or https://lnkd.in/ediwkcbG. Whistleblower disclosures to the SEC have enabled the SEC to recover more than $6 billion in sanctions and return more than $1.5 billion to defrauded investors. And whistleblowers have helped the SEC to halt ongoing fraud schemes. Accordingly, whistleblowers deserve strong remedies to combat retaliation and incentives to come forward.

How will the DOJ's pilot program for #whistleblowers change the landscape for corporate whistleblowing programs? For Corporate Compliance Insights, Chris Hoyle shares his perspective on key questions about the new program, and what steps organizations can take to bolster their #compliance and speak-up culture. Read more at the link below. https://lnkd.in/eQt638cS #integrity #doj #regulatorycompliance #whistleblowing

Since Corporate Fraud is so pervasive here's how whistleblower policies can help prevent it! Learn about the importance of whistleblowers, the benefits of implementing whistleblower policies, and how organizations can overcome challenges in their implementation. Check out this insightful article to find out more! #CorporateFraud #WhistleblowerPolicies #FraudPrevention #CorporateInvestigation???♂??? https://lnkd.in/dtQTxayN

I enjoyed sharing perspectives with Corporate Compliance Insights on the impact of the new #DOJ whistleblower pilot program on corporate compliance programs. It is more important than ever for a company to have a strong speak-up culture and a clear path for #whistleblowers to raise concerns. Read more in the article below and stay tuned for new updates from the DOJ on the next steps.? https://lnkd.in/evntzs4Z ? #corporatecompliance #cultureofcompliance #regulatorycompliance

???????????????????? ?????? ??????'?? ?????? ?????????????????????????? ???????????? ?????????????? The DOJ has launched a groundbreaking Corporate Whistleblower Awards Pilot Program, offering significant financial incentives to whistleblowers who provide original information on corporate misconduct. This new initiative could transform how companies handle compliance and reporting. ?????? ???????? ??????????????: The program could mean increased scrutiny for corporate practices, with higher risks of employees turning to the DOJ to report violations. This could be a game-changer for businesses navigating trade compliance and anti-corruption efforts. ???? ???????? ?????????????? ????????????????? In our latest blog post, we discuss: ? The potential impact of this program on corporate compliance ? Key steps companies should take to safeguard against risks ? How to create a proactive compliance culture that mitigates whistleblower threats Click to read Carrie Schroll and Wyatt Mince's article and discover how your business can adapt to these changes: https://lnkd.in/eWp9hd58 #InternationalTrade #CorporateCompliance #DOJ #Whistleblower #LegalUpdate #RiskManagement #KelleyDrye